Johnsons Shoes Company enters administration

Wed, 20 May 2020 | ADMINISTRATION



Johnsons Shoes Company, the parent company of shoe retailers Johnsons Shoes and Bowleys Fine Shoes, has filed for administration, citing online competition and the impact of coronavirus.

The family-run company was established 50 years ago and runs 12 stores in Windsor, Newbury, Staines, Teddington, East Sheen, New Malden, Twickenham, Walton-on-Thames, Northwood, Richmond, Beaconsfield and Farnham.

Ian Defty and Richard Toone of CVR Global have been appointed as joint administrators. All of the company’s 145 staff who are currently furloughed will keep their jobs for the time being as the administrators seek a buyer for the business. There are reported to have already been expressions of interest in the company from high street retailers and newer market players.

Ian Defty commented: “Due to the coronavirus pandemic and lockdown Johnsons Shoe Company lost its ability to continue trading, and it was the final nail in the coffin for a business that was already struggling before the pandemic struck, like many other retailers.”

“The business has traded strongly for many years, but last year was particularly difficult for them as they battled with rising rent and business rates, combined with the increasing competition from online shopping.”

“The business’s products have mass family appeal, and if it can attract a buyer who can help it to adapt and trade, possibly via online channels, then it has a strong chance of continuing the strong legacy it has built up over the decades.”

The company’s problems have raised concerns among brands that they stock that they will see lost business. Johnsons Shoes and Bowleys Fine Shoes stock 27 brands, including Timberland, Ugg, Clarks and Converse.

The managing director of a brand stocked by the company was quoted as saying: “To lose a dozen independent stores within the M25 area – it’s going to be well-nigh impossible to replace them. We did very good business with them and we can’t replace that business.” The person added that they “fear they won’t be the last”.


View the latest distressed UK businesses here.


Share this article



Latest Businesses for Sale

Plant Hire & Sales
Lincolnshire, UK Wide

Established in 1975, this is the "go to" plant hire business within the Spalding region. They have a vast and ever growing customer base that is well diluted. The premises were purpose built, fully secure with ample room for expansion. The 2nd tier m...

Asking Price: £900,000
Turnover: £662,000

LEASEHOLD


Premium Gardening Supplies Online Retailer
UK Wide

Well-established business operating for over eight years. Specialises in the online sale of both own-brand and leading brands of gardening and horticultural supplies across the UK. Enviable client base comprising a number of long-standing relationshi...

Asking Price: Offers Invited
Turnover: £5,600,000

RELOCATABLE


Online & Retail Florist Business
Oldham, Manchester, North West, UK

Established in 1978. Excellent reputation. High profit margins. Mix of corporate and general public customers. Further growth potential. Seen large growth in online. Offers invited.

Asking Price: £70,000
Turnover: £327,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
14
 
Aug
 

Trafford Centre up for sale after Intu administration | COMMERCIAL PROPERTY

Manchester’s Trafford Centre shopping mall is up for s...

 
13
 
Aug
 

Administrators bring three former Shepherd Cox Group hotels to market | DIVISION SALE

Administrators have put three hotels in the North of England...

 
12
 
Aug
 

Baird Group to close stores as CVA is approved | BUSINESS NEWS

Retailer and wholesaler Baird Group, the license holder for ...

Free guide: 10 Biggest Buyer Mistakes

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

Email


Related News

 
16
 
Jul
 

Johnsons Shoes Company acquired out of administration, with six stores to continue | BUSINESS SALE

Johnsons Shoes Company has been acquired out of administrati...

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