UK Brantano footwear firm in administration
UK value footwear group Brantano has been placed into administration, despite sustained efforts by management to make the business more commercially viable.
Tony Barrell, Mike Jervis and Rob Hunt of Pricewaterhousecoopers (PWC) were yesterday (21 January) appointed as joint administrators of the group. The Leicestershire-based company, which operates 140 stores and 60 concessions across the UK, employing around 2,000 staff, is said to have experienced difficult tradition conditions over the last year. It was acquired by Alteri Investors in October 2015.
"The continuing challenging conditions for 'bricks and mortar' retail stores are well documented," said Barrell. "Like many others, Brantano has been hit hard by the change in consumers' shopping habits and the evolution of the UK retail environment.
"The administrators are continuing to trade the businesses as normal whilst we assess the trading strategy over the coming days and weeks. Staff will be paid their arrears of wages and salaries, and will continue to be paid for their work during the administration."
Moran added that PwC is now assessing interest in the UK Brantano business as a whole or its parts and welcomes approaches from interested parties.
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