840 jobs saved as Jones Bootmaker snapped up for £11m

Mon, 27 Mar 2017 | BUSINESS SALE

Historic British shoe retailer Jones Bootmaker has been acquired for £11 million by private equity house Endless in a deal that saves 840 jobs and keeps 72 stores and its head office open.

Jones was sold by Alteri Investors in a pre-pack administration deal, where a buyer for a struggling company is lined up shortly before it enters administration, allowing for a quick sale.

But around 262 jobs will be lost and 25 “underperforming” stores and six concessions will close.

Jones, originally established in 1857, sells shoes for men and women under its own brand name and stocks a range of other well-known brands.

"We are delighted that we have been able to rescue such an iconic UK footwear brand as Jones Bootmaker, including a high proportion of stores and preserving a large number of jobs, especially given the current economic pressures faced by retailers across the UK," said Will Wright, partner at KPMG, which managed the sale.

"This deal recognises the value of Jones as a strong and popular high street brand with a loyal customer base."

Endless has some experience in the footwear industry having formerly owned Peter Black International, a large footwear distributor.

The firm’s Andrew Smith, who led the acquisition, said: "Jones is a well-known and loved brand on the UK high street.

“We recognise that there is a lot of work to be done to transform the company to secure long-term stability for the business and its employees but we are delighted to be working with the team and can see the opportunities for an exciting future.”

Jones has avoided the fate of shoe chain Brantano, which formally went into administration last week. That firm was also owned by Alteri Investors.

Find retail businesses for sale.


Share this article



Latest Businesses for Sale

Recruitment Agency (Fast Sale)
North West, UK

Indicative offers are required by 12:00hours on Monday 20 January 2020 with a view to completion shortly thereafter. The proposed Joint Administrators are seeking parties interested in the business and assets of a Company that trades as a recruitment...

Asking Price: Offers Invited
Turnover: £2,400,000

LEASEHOLD


Commercial Contractor (Fast Sale)
Midlands, UK Wide

Offers and proof of funding sought by 17:00hours on Friday 24 January 2020. The Joint Administrators are seeking parties interested in the business and assets of a commercial contractor business based in the Midlands.

Asking Price: Offers Invited
Turnover: £3,400,000

Hospitality Industry Recruitment Specialist
UK Wide

Provides highly skilled and professional hospitality staff across a variety of sectors. Recognised as both a preferred and top tier supplier for several of its prestigious clients. Supplying both temporary and permanent Nationwide staffing solutions....

Asking Price: Offers Invited
Turnover: £3,500,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
17
 
Jan
 

Sample book and shade card manufacturer acquired from administration | BUSINESS SALE

The business and assets of Yorkshire-based display products ...

 
16
 
Jan
 

Northgate and Redde shareholders approve merger | MERGER

The proposed merger of listed companies Northgate and Redde ...

 
15
 
Jan
 

SSE sells retail business to OVO Energy | DIVISION SALE

Power utility SSE has announced it has completed the sale of...

Free guide: 10 Biggest Buyer Mistakes

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

Email


Related News

 
14
 
Jan
 

Beales in sales talks to avoid administration | ADMINISTRATION

Department store chain Beales is in talks with two potential...

 
09
 
Dec
 

Scunthorpe construction group call in administrators | ADMINISTRATION

Scunthorpe-based Clugston Group and Clugston Construction ha...

 
06
 
Dec
 

KPMG agrees to sell pensions arm | DIVISION SALE

Professional services network KPMG has announced that it has...

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