Redundancies "inevitable" amid problems in footwear market
23rd March 2017
More than 1,000 jobs are under threat after a footwear retailer with stores in Gloucestershire went into administration.
Brantano, which has shops in Quedgeley, Stroud and Lydney, has struggled to attract and retain customers amid tough trading conditions on the High Street and online.
Brantano has 73 stores and 64 concessions in the UK and employs nearly 1,100 staff.
It is owned by private equity company Alteri, which is also trying to find a buyer for another of its struggling footwear chains, Jones Bootmaker.
Tony Barrell of PwC, who has been appointed as lead administrator to Brantano, told the Guardian: "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."
He added: "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."
Alteri put Brantano into administration last year but then decided to buy it back.
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