Member Article

1000 British jobs in jeopardy as Brantano recalls administrators

Footwear retailer Brantano has gone into administration today, putting over 1000 British jobs in immediate threat.

The Leicestershire-headquartered company, which operates 73 stores and 64 concessions across the UK, has appointed Tony Barrell and Mike Jervis of PwC as joint administrators.

Brantano Retail Limited was actually acquired by a company controlled by Alteri Investors in February 2016 but has experienced difficult trading conditions, despite efforts and streamlining to make the business more commercially viable.

Tony Barrell, lead administrator at PwC, explained: “Despite significant improvements in the business and reductions in the cost base, trading has continued to suffer in a depressed and competitive footwear market.

“Like many other retailers, Brantano has also been hit hard by the sharp decline in sterling, the ongoing shift in consumer shopping habits and the evolution of the UK retail environment.

“The administrators are continuing to trade the business as normal whilst assessing the trading strategy and any interest in parts of the business over the coming days and weeks. However, regrettably, it is inevitable that there will be redundancies.

“Staff will be paid their arrears of wages and salaries, and will continue to be paid for their work while the business is in administration.”

Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →