The reality of lower consumer spending and a downturn in the global economy became all too apparent on Monday as one of Britain’s most well-established mid-price footwear retailers Dolcis went into administration.

Approximately half of the chain’s 185 outlets have already been closed by the administrators (KPMG) and up to 600 jobs are thought to have already been cut.

KPMG is, however, hopeful of finding a buyer for the beleaguered company.

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