Discount shoe retailer Brantano goes into administration
- Credit: Gregg Brown
Discount shoe retailer Brantano has gone into administration, putting 2,000 jobs at risk, just three months after it was bought by an investment firm.
Administrators from PwC said the Leicestershire-based business runs 140 stores and 60 concessions across the UK.
According to Brantano’s website, this includes six branches in Suffolk and north Essex, at locations including Ipswich, Colchester, Martlesham Heath, Harwich, Chelmsford and Lowestoft, where it also has a concession in the Beales department store.
PwC lead administrator Tony Barrell said: “The continuing challenging conditions for ‘bricks and mortar’ retail stores are well documented.
“Like many others, Brantano has been hit hard by the change in consumers’ shopping habits and the evolution of the UK retail environment.”
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Mr Barrell added: “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.”
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PwC deals partner Robert Moran was hopeful a new buyer could be found for the business.
Mr Moran said: “We are now assessing interest in the UK Brantano business as a whole or its parts and we welcome approaches from interested parties.”
Brantano was bought by retail investment firm Alteri Investors in October, along with Jones Bootmaker, from the Dutch-based Macintosh Retail Group for an undisclosed sum.
However, PwC said that, since the sale, Brantano had “experienced difficult trading conditions”. PwC added that Jones Bootmaker is not affected by the administration.
Brantano is one of the first sizeable retailers to collapse into difficulty this year after the key make-or-break Christmas trading period.