Home
Distressed Businesses
  • All Distressed Businessess
  • Administrations
  • Liquidations
  • Winding Up
  • Insolvency Advice  New
Buy a Business
  • All Businesses for Sale
  • Find a Business for Sale
  • Raising Business Finance
  • Buyer Acquisition Service   New
  • Escrow Service   New
Sell a Business
  • Sell Your Business
  • List your Business
  • Seller Accounts
  • Need Help Selling?
  • Help With Finance New
  • Corporate Services  New
  • Business Valuation
  • Business Wanted Adverts
Insights & News
  • View All News
  • View All Insights
  • Exclusive Insights New
  • Video Insights
Lens
  • Search all UK Companies  New
Log in
Join Now

Home / News / Aldo UK falls into administration

Aldo UK falls into administration

Mon, 01 Jun 2020 | ADMINISTRATION



Footwear retailer Aldo UK has entered into administration due to the impact of the COVID-19 pandemic. The company is the UK arm of the Canadian Aldo Group, which has filed for Companies’ Creditors Arrangement Act in Canada (CCAA) and pursued similar measures for its North American, Irish and Swiss businesses.

Five of Aldo UK’s stores have been permanently closed, while administrators RSM are exploring options for the remaining eight stores. Aldo shoes will continue to retail online, as well as through Selfridges, House of Fraser, Debenhams, Asos and Amazon. The number of jobs that will be affected is not clear yet.

In a statement, Aldo Group said: “The move was necessary based on the impact of the COVID-19 pandemic, as well as historic profitability challenges and the unprecedented collapse in retail spending in the UK and globally. These factors put too much pressure on the business to continue operating in the UK.”

”Regrettably, this has led to the immediate closure of five stores. The administrators anticipate maintaining eight stores as they look to explore future options for the company.”

”The Aldo Group continues to believe in the strength of its company and brands; Aldo will remain a global brand and still has a strong presence in [more than] 100 countries. The company will use the proceedings to restructure its business and build on its legacy in retail fashion in other jurisdictions, allowing to ensure the long-term stability of the company and its international business.”

In its latest set of accounts, to the year ending January 26 2019, Aldo UK registered total losses of close to £5.5 million. Its turnover for the period was £29 million, down from £34 million in 2018, with the decline attributed to four underperforming stores. Four stores subsequently closed. At the time, the company reported current assets of £35 million and liabilities of £28.9 million.

COVID-19 has taken a severe toll on the UK’s fashion and clothing retailers in recent weeks. Monsoon Accessorize was last week said to be close to entering administration, while another shoe retailer, Johnsons Shoes Company, entered administration on May 20.


View the latest distressed UK businesses here.


Share this article



Latest Businesses for Sale

E-Commerce Retailer Of Home Storage Products
UK Wide

Long established and highly profitable on-line retailer of premium quality rattan/wicker home furniture/storage products. Established as one of the country's leading suppliers of a large range of rattan products for the modern home. The products are...

Asking Price: £350,000
Turnover: £700,000

RELOCATABLE


Online Retailer Specialising In Garden Machinery
UK Wide, North West

The company specialises in domestic and industrial garden machinery, cleaning equipment, spares and parts. Products include, pressure washers, vacuum cleaners, hedge trimmers, strimmers and heaters.

Asking Price: Offers Invited
Turnover: £1,900,000

LEASEHOLD


Retailer Of Diy And Hardware Products
UK Wide

A market-leading retailer of a diverse range of DIY products for clients throughout the UK. Functions as a one-stop shop for all of its clients’ requirements, providing complete solutions.

Asking Price: Offers Invited
Turnover: £6,800,000

FREEHOLD



View more businesses for sale

News Search

Latest News

 
26
 
Feb
 

Hanson-owned brickwork contractor closes down | BUSINESS NEWS

Brickwork firm Irvine-Whitlock, a subsidiary of building mat...

 
25
 
Feb
 

Fairstone secures further backing from PE firm TA Associates | BUSINESS NEWS

Acquisitive wealth management firm Fairstone Financial Manag...

 
24
 
Feb
 

Nestlé acquires recipe kit firm SimplyCook | BUSINESS SALE

Nestlé has strengthened its position in the e-commerc...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
02
 
Dec
 

Bonmarché falls into administration | ADMINISTRATION

Fashion retailer Bonmarché has fallen into administra...

 
21
 
Sep
 

Aldo UK acquired out of administration by investment firm | BUSINESS SALE

The UK arm of shoe retailer Aldo has been acquired by Birmin...

 
28
 
Aug
 

Burrito chain Chilango acquired out of administration | BUSINESS SALE

London-focused burrito chain Chilango has been acquired out ...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources

Become a Member

News Categories

  • - Business Sale
  • - Division Sale
  • - Administration
  • - MBO/MBI
  • - Merger
  • - Commercial Property

View all news


About Us

Business Sale Report is the UK's leading independent business for sale & distressed business listing service. Established in 1995, the report offers an up-to-the-minute, comprehensive overview of businesses for sale, latest distressed business listings and daily acquisition news.

Our Services

Businesses for Sale
Distressed Companies
List a Business
Help with Finance
Buyer Acquisition Service
Small Businesses for Sale

Company

About Us
Insights
News
FAQs
Reviews
Terms & Conditions
Privacy Policy

Get In Touch

020 8875 0200
[email protected]
167 Oakhill Road, London, SW15 2QW
Working hours: Mon-Fri, 9am - 5:30pm


Sign up to our free newsletter



© 1995-2021. Business Sale Report Ltd. All rights reserved. www.business-sale.com.