4,000 jobs at risk as Barratts and Priceless Shoes go into administration
Thursday 08 December 2011
Nearly 4,000 jobs were under threat today after the owner of shoe shops Barratts and Priceless Shoes collapsed into administration.
The failure of the Bradford-based chain Barratts Priceless, which has 191 stores in the UK, followed unseasonably mild weather in recent weeks, which exacerbated already difficult trading conditions.
Administrator Deloitte said it will continue to trade the stores while it seeks a buyer for all or parts of the business.
There are approximately 3,840 staff working in 191 stores and 371 concessions across the UK.
Deloitte restructuring partner Daniel Butters said: "Barratts and Priceless Shoes have faced a downturn in trading as a result of the difficult economic conditions.
"This has been exacerbated by the unseasonably mild weather in recent weeks which resulted in fewer sales across new winter lines."
It is the second time the business has been put into administration as Michael Ziff, chairman of Barratts Priceless parent company Stylo, bought 160 shops from Deloitte after the chains were put into administration in 2009.
At the time, Deloitte closed 220 stores but Mr Ziff was able to safeguard around 3,000 jobs.
- 1 Howard Jacobson: Let's see the 'criticism' of Israel for what it really is
- 2 Instagram of US airport security chiefs: Lipstick knives and IED training kits among items seized
- 4 PornHub begs users to stop uploading video clips of Brazil getting beaten 7-1
Game of Thrones author George RR Martin says 'f*** you' to fans who fear he will die before finishing Westeros saga
Jennifer Lawrence face palms Emma Watson at Christian Dior show in Paris
Instagram of US airport security chiefs: Lipstick knives and IED training kits among items seized
Mick Jagger denies being World Cup curse and reason for Brazil’s embarrassing defeat
Gingers face extinction due to climate change, scientists warn
Sustained immigration has not harmed Britons' employment, say government advisers
British jihadist calls for 'flag of Islam' over Downing Street and Buckingham Palace
Australia facing international condemnation after turning around Sri Lankans at sea
7/7 memorial defaced on anniversary of 2005 attacks with ‘Blair lied thousands died’ graffiti
Even when it brutalises one of its own teenage citizens, America is helpless against Israel
There’s a nasty smell in the political air – and it’s coming from the Tories
iJobs Money & Business
£60000 - £75000 per annum: Harrington Starr: Business Analyst Consultant (Fina...
£60000 per annum: Harrington Starr: A leading provider in investment managemen...
£600 - £700 per day: Harrington Starr: AVS, JVS Openlink Endur Developer JVS, ...
£30000 per annum: Harrington Starr: A global leader in trading platforms and e...