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.
Find retail businesses for sale.
You can subscribe to the Business Sale Report here
Offers required by April 17, 2020 - 6:00pm. Opportunity has arisen predominantly as a result of a funding requirement determined by trading losses partially driven by reduced margins on contracts and increasing fixed overheads in a competitive sector...
LEASEHOLD
Interested parties should be in a position to submit initial expressions of interest no later than 5pm on 3 April 2020. South East based companies focusing on recruitment (temporary and permanent), engineering and site logistics for the construction...
Offers an extensive range of specialist property development solutions. Provides a multitude of security systems, including installation and maintenance. Works with circa 140 active clients, 85% of whom provide repeat business. Offered for sale to fa...
FREEHOLD
|
02
|
|
Apr
|
Next puts headquarters and three warehouses up for sale | COMMERCIAL PROPERTY
Fashion retailer Next has put its head office and three ware...
|
01
|
|
Apr
|
Sheffield-based cafe chain falls into administration | ADMINISTRATION
Sheffield-based cafe chain Massarella Gelaterie Ltd has been...
|
31
|
|
Mar
|
Coronavirus Business Interruption Loan Scheme to cover business acquisitions | BUSINESS NEWS
The UK government has launched the Coronavirus Business Inte...
Sign up to receive our acquisition alert emails to get your FREE guide
|
27
|
|
Mar
|
840 jobs saved as Jones Bootmaker snapped up for £11m | BUSINESS SALE
Historic British shoe retailer Jones Bootmaker has been acqu...
|
28
|
|
Feb
|
Jones the Bootmaker put up for sale | BUSINESS SALE
Jones Bootmaker, one of the oldest names on the British high...
|
17
|
|
Feb
|
58 stores available in Brantano administration sale | BUSINESS SALE
There are 58 stores available to buy as part of a PwC-led ad...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources