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
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

Commercial Vehicle Business For Sale
UK Wide

• Leasehold premises – 8 years left • Well-presented Website • 20ft x 8ft Portable Office • 10ft x 8ft Store room container • Water & electric on site • Site can hold 40 vehicles • Vehicles not included in sale – can be purchased on top of sal...

Asking Price: £270,000
Turnover: £701,493

LEASEHOLD


Supplier of Outdoor Sporting Equipment
UK Wide

Supplies a comprehensive range of specialist high-end sporting equipment, with individual models retailing at up to £5k. Primarily sells to the general public, holiday parks and activity centres, with additional revenue generated by the film and TV p...

Asking Price: Offers Invited
Turnover: £392,000

RELOCATABLE


E-Commerce Provider of Printed Garments & Accessories
UK Wide

Rapidly expanding online retailer of distinguished garments and accessories serving a diverse client base comprising both B2B and B2C custom. Using in-house printing and manufacturing software the company has cultivated a unique portfolio of clothing...

Asking Price: Offers Invited
Turnover: £4,584,000


View more businesses for sale

News Search

Latest News

 
20
 
May
 

Administrators seek buyer for gourmet instant noodle brand | ADMINISTRATION

Bournemouth-based instant foods brand Mr Lee’s Pure Fo...

 
19
 
May
 

Knights continues acquisition-lead growth strategy with £11.5m deal for law firm | BUSINESS SALE

Legal services company Knights has acquired Portsmouth-headq...

 
18
 
May
 

Insolvencies forecast to surge 37 per cent in 2022 as inflation hits 40-year high | BUSINESS NEWS

Businesses in the UK look set to come under continuing press...

Free guide: 10 Biggest Buyer Mistakes

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

Email


Related News

 
16
 
Mar
 

Buy2LetCars falls into administration after FCA imposes restrictions | ADMINISTRATION

Car leasing firm Buy2LetCars has fallen into administration ...

 
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...

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



© 1995-2022. Business Sale Report Ltd. All rights reserved. www.business-sale.com.