End of the line for Spanish shoe retailer
13/02/2020
Founded in the 1980s, the group began manufacturing its own product in the 1990s. It later expanded into children’s shoes and opened shops throughout Spain through franchise partners.
In 2013, however, it went into administration and only came out, after financial restructuring, five years later, having secure investment from a venture capital firm.
However, by the start of 2020, it said it was looking for a buyer and complained that the repayment regime it had been obliged to accept on coming out of administration had made cash-flow too tight.
No buyer came forward and the group went into liquidation on February 12.
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