Shoe retail group seeks bankruptcy protection agai - footwearbiz: Lead

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Shoe retail group seeks bankruptcy protection again

13/11/2013
Footwear retailer Barratts Shoes, which has 75 stores and 23 concessions throughout the UK and Ireland, went into administration on November 11. More than 1,000 jobs are under threat.

Duff & Phelps, administrators for the footwear firm, said an investor had been preparing to put £5 million into Barratts, but had now withdrawn the offer. It said it still hoped to be able to sell the business as a going concern but confirmed it could not rule out staff lay-offs or store closures.

It is the third time in only a few years that owners of the Barratts chain have sought bankruptcy protection. The last time was at the end of 2011, when it had more than 500 outlets. A management buy-out of a smaller number of stores emerged in 2012 under the name Barratts Trading Limited. It is this company, which has its headquarters in Yorkshire, that has gone into administration this time.


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