Partner Article

Barratts Priceless Group goes into administration

The Barratts Priceless Group have announced that they are to go into administration.

The nationwide shoe shop train have appointed Daniel Butters, Neville Kahn and Adrian Berry, partners at Deloitte as joint administrators.

Daniel Butters, Joint Administrator and partner in Deloitte’s Restructuring Services practice, comments: “Barratts and Priceless Shoes have faced a downturn in trading as a result of the difficult economic conditions.

“This has been exacerbated by the unseasonably mild weather in recent weeks which resulted in fewer sales across new winter lines.

“We will continue to trade the stores whilst we seek a buyer for all or parts of the business as a going concern.”

This announcement will cause major concerns for the Groups 3,840 employees, who operate in 191 stores and 371 concessions across the UK.

He added: “We are working closely with suppliers to ensure the business has the best possible platform to secure a sale, preserve jobs and generate as much value as possible for all creditors.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .