Fri, 17 Mar 2017 | ADMINISTRATION
It is hoped a buyer can be found for historic footwear and accessories retailer Jones Bootmaker, which is on the cusp of falling into administration.
Alteri Investors, the firm’s private equity owner, is reported to have filed a notice to appoint administrators to the company, placing 1,145 jobs at risk.
Jones Bootmaker was established in 1857 when Alfred and Emma Jones opened their footwear shop in Bayswater, London. Today the firm, headquartered in Leicestershire, has more than 120 stores across the UK.
The firm is thought to be struggling financially as its tries to cope with incoming business rate rises and price hikes brought about by the collapse of the value of the pound following the Brexit vote.
The move to appoint administrators is designed to give Jones Bootmaker breathing space from creditors looking to recover debts from the company while a new owner is found.
Sky News reported that while there is a risk of the retailer falling into administration, Alteri, together with advisors KPMG, are said to be in discussion with several buyers, with “credible” offers on the table.
Alteri acquired Jones Bootmaker, together with the Brantano brand, in 2015.
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