Brantano: fall of shoe tradesman puts 1,000 jobs during risk

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Brantano

Shoe tradesman Brantano has left into administration, putting some-more than 1,000 jobs during risk.

The sequence was bought out of administration only over a year ago by a association tranquil by turnaround specialists Alteri Investors.

Since afterwards Brantano has suffered from a “depressed and competitive” boots market, as good as a tumble in sterling.

Alteri also owns Jones Bootmaker and is seeking a customer for that chain.

Brantano, that sells “value” shoes, has 73 outlets and 64 concessions in a UK and employs 1,086 staff, including 71 during a conduct bureau in Leicestershire.

Administrators from PwC pronounced a business would continue to trade as normal while a customer is sought.

Lead director Tony Barrell said: “Like many other retailers, Brantano has also been strike tough by a pointy decrease in sterling, a ongoing change in consumer selling habits and a expansion of a UK sell environment. Regrettably, it is unavoidable that there will be redundancies.”

‘Difficult conditions’

Alteri Investors acquired Brantano and Jones Bootmaker in Oct 2015. Four months after Brantano went into administration and Alteri bought it back, reduction a few stores.

The sequence as subsequently has faced “difficult trade conditions”, pronounced PwC, “despite postulated efforts and streamlining to make a business some-more commercially viable. A sale of a association was explored and while it generated interest, unfortunately it has not been probable to achieve.”

Short URL: http://agetimes.net/?p=202251

Posted by on Mar 23 2017. Filed under Business. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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