Brantano UK enters administration
On October 27 last year, Alteri Investors purchased footwear brands Brantano UK and Jones Bootmaker from Mackintosh for £12.3m.
Former owner the Mackintosh entered bankruptcy in December, 2015, and today it has been announced that Brantano UK has collapsed into administration. The news could put 2,000 jobs at risk. Brantano has 140 stores and 60 concessions across the UK and its head office, with around 200 staff, is based in Coalville, Leicestershire.
Tony Barrell, Mike Jervis and Rob Hunt of PwC have today been appointed as joint administrators of Brantano (UK). PwC said the company has experienced difficult trading conditions since its was acquired by Alteri.
Tony Barrell, lead administrator at PwC, 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.
“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.”
Robert Moran, deals partner at PwC, is leading the sales process and said: “Brantano is an established value shoe retailer in the UK and Jones Bootmaker/Brantano businesses attracted considerable interest during the 2015 sales process. We are now assessing interest in the UK Brantano business as a whole or its parts and we welcome approaches from interested parties.”
Mackintosh just sold the Belgian branch of Brantano, which it still owned, to a trio of retailers: Rens van de Schoor (Miss Etam), Dieter Penninckx (FNG) and Wouter Torfs (Schoenen Torfs).
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