Barratts enters administration for third time
Shoe retailer employs some 1,035 staff in almost 100 outlets in the UK and Ireland
Barratts Shoes has gone into administration for the third time in four years, putting more than 1,000 jobs at risk. Photograph: Sean Dempsey/PA Wire.
Barratts Shoes has gone into administration for the third time in four years, putting more than 1,000 jobs at risk.
Directors at the Bradford-based chain were left with no choice after an investor pulled out of a plan to inject £5 million at the end of last week as the company sought to shore up its finances, according to a statement.
The administrators said they were reviewing the company’s financial position and seeking a sale of the business as a going concern but said: “At this stage redundancies and/or store closures cannot be ruled out.”
Barratts Shoes operates from 75 stores and 23 concessions across the UK and Ireland, employing 1,035 people, of whom 521 are part time, the statement said.