Thu, 05 Jan 2012 | ADMINISTRATION
The administrators for Barratts Priceless are still searching for a new owner for the embattled business despite announcing 1,600 job losses last week.
The shoe retailer went into administration in early December for the second time in two years, amidst fears that the firm could fail to meet its obligation on its 25 December rent day.
The job cuts will be rolled out across its 191 UK and Ireland stores. It also has 371 concessions, 359 of which are in Arcadia Group stores.
Joint administrator Daniel Butters commented, “Following a marketing of the Barratts Priceless businesses it is clear that a satisfactory sale of the concession to a new party will not be achieved.
“Accordingly, the joint administrators have regretfully to make approximately 1,610 Barratts Priceless Group full and part-time employees working in the various concessions redundant.”
The joint administrators are in “active discussions to rescue a significant part of the remaining business.”
The administrators are talking to several concessionaires to see how many of the affected staff can be re-employed, a Deloitte spokesman said.
Previous story - 18 Barratts and Priceless stores shut as buyer search continues.
The company is a well-established specialised contractor offering commercial decoration services across Central Scotland, known for its strong relationships with Tier 1 construction organisations and preferred contractor status. With a diverse projec...
This market-leading business specialises in bespoke, luxury kitchens and whole-house furniture, with expertise in handmade designs using responsibly sourced local hardwoods. Catering to high net-worth individuals, the company boasts a strong team and...
A well-established travel company with over 14 years of experience, it specialises in weekend breaks, five-day adventures, and summer holidays across the UK and Europe, offering the convenience of a door-to-door pick-up service. The business benefits...
FREEHOLD
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.