UK: Administrators in talks over some Barratts stores
Barratts operates from 75 stores and 23 concessions
Duff & Phelps, the administrator for troubled UK footwear chain Barratts, has said it is in discussions with a potential buyer for some of the group's stores.
Earlier this month the shoe company closed around a quarter of it stores after collapsing into administration for the third time in November.
Barratts operates from 75 stores and 23 concessions, and employs around 1,035 people across the UK and Ireland.
A spokesperson for the administrator told just-style this morning (16 December) that it had been unable to find a buyer for the footwear chain to date, but added: "We are in discussions with a party over certain stores."
The Yorkshire Post this morning reported that rival shoe retailer Pavers had made a rescue offer for parts of the chain. The administrator, however, could not confirm whether Pavers was the party it was in discussions with.
Reports surfaced in early October that the Bradford-based firm was in trouble and was seeking a GBP3m (US$4.8m) loan to help pay for stock in the lead-up to the Christmas shopping period.
When it slipped into administration last month, Duff & Phelps said "difficult trading conditions" in the sector led the directors to "explore potential refinancing options and additional equity for the business".
In December 2011, the Barratts Priceless Group - owner of the Barratts and Priceless Shoes footwear shops - collapsed into administration after a downturn in trading. Prior to this, previous owner Stylo called in administrators in January 2009, with Ziff rescuing 160 stores as well as 165 concession outlets.
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