UK footwear firm Johnsons Shoes Company has been bought out of administration, resulting in the closure of six London stores.
The shoe retailer, which operates Johnsons Shoes and Bowleys Fine Shoes, appointed Ian Defty and Richard Toone of CVR Global as joint administrators on 23 April.
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The company has now been purchased by Newjohn Ltd, which is part of the independent retailer, Daniel Footwear, saving 66 of the group’s reported 145 jobs.
Johnsons Shoes Company’s existing stores in Teddington, Twickenham, Walton-on-Thames, Farnham, Staines and Northwood have all been saved, and will continue to trade as Johnsons Shoes. However, its stores in Windsor, Newbury, East Sheen, New Malden, Beaconsfield and Richmond have ceased trading.
Ian Defty, partner at CVR Global, said: “Rescuing any high street retailer during one of the most volatile economic periods in living memory is no mean feat – so we are pleased to have saved a significant number of jobs and half of the store’s estate.
“The business has traded strongly for many years, but last year was particularly difficult for them as they battled with rising rent and business rates, combined with the increasing competition from online shopping.
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By GlobalData“However, we believe we have found a buyer who, with more than 20 years of retail experience, is the perfect fit for Johnsons Shoes as they are ideally placed to help them expand their online presence and product offering.”
The family run business has been operating since 1970 with 12 stores across London and the South-East of England. It sells brands including Clarks, Vans, Timberland, Geox, Skechers and Barbour. However, it had to close its stores on 20 March due to the pandemic.
