UK footwear chain Jones the Bootmaker has changed hands for the second time in less than a year.
The company, which was purchased by UK private equity investor Endless LLP ten months ago, has been acquired by Pavers Limited, a family-owned footwear business operating in the UK.
Originally established in 1857, Jones sells shoes for men and women under its own name and also a range of other high-end brands.
Endless purchased the business and assets from administrators in March in an attempt to save as much of the business as possible and retain Jones Bootmaker as an independent operator.
“Despite substantial investment and best efforts, the recent adverse retail conditions have meant that the Jones business could not be turned around and needed to be part of a larger group,” the firm said in a statement yesterday (26 February).
Now it has struck a deal with Pavers that includes 42 out of the 47 Jones Bootmaker stores, jonesbootmaker.com and the Jones brand, safeguarding the jobs of 389 employees, but excludes the head office and five stores.
Stuart Paver, managing director of Pavers, said the business wants to re-establish the traditional family values at Jones, returning the focus to “exceptional product and friendly customer service”.
“Our plan is to grow and develop the Jones Bootmaker brand and product as a distinct offering separate from the existing Pavers retail business,” he added. “We believe the Jones brand has an exciting future and are eager to invest in this.”