Birmingham-based Bushell Investment Group (BIG) has confirmed the acquisition of footwear retailer Aldo UK

Birmingham-based Bushell Investment Group (BIG) has confirmed the acquisition of footwear retailer Aldo UK

The UK arm of footwear retailer Aldo has been acquired by Bushell Investment Group (BIG), saving 150 jobs and creating an additional 50 roles across the business over the next 12 months.

The UK business, which fell into administration in May, will join the BIG portfolio, which includes high street hair salon brands Regis and Supercuts. 

Under the new ownership, BIG will run the 11 Aldo UK stores and the Aldo UK e-commerce platform.

"The Aldo brand holds significant strength, offering high quality merchandise through its high street and e-commerce channels, and this is further supported by the passion and commitment of its workforce," says BIG CEO Lee Bushell.

"We feel passionately about protecting this established high street brand, and we are confident that by introducing Aldo UK into the Bushell Investment Group we will be able to utilise the existing infrastructure to achieve future growth of the business."

Michel Fahmy, vice president of Aldo Group International, adds: "This important acquisition will enable the brand to re-emerge from administration through a franchise agreement, maintaining Aldo's presence and heritage in this country. As a fashion capital, the UK has always been a strategic market, and having such a solid partner to join our brand is positive news."

Parent company Aldo Group told just-style in June that it could receive investment from the government of Quebec.

Aldo filed for creditor protection in order to restructure its business in May, citing difficulties since the Covid-19 pandemic hit and the changing retail landscape.

Subsequently, the Canadian firm began proceedings to appoint a liquidator for its Ireland business a week later.