Barratts and Priceless go under again
Barratts Priceless, the retail footwear group, has collapsed into administration again, to leave nearly 4,000 jobs hanging by a thread.
The company, which trades 191 shops as Barratts and Priceless Shoes, appointed Deloitte as administrator yesterday after becoming the latest victim of the sharp downturn in consumer spending. Its sales of new winter lines have also been hit by the unseasonably warm weather.
The shoe group, which employs 3,840 staff, will not be the last sickly retailer to collapse before or shortly after the first-quarter rent day that falls on 25 December.
But Barratts Priceless has been struggling for years and the two chains had previously fallen into administration in January 2009, when they operated under the listed shoe group Stylo. The chairman of Stylo, Michael Ziff, whose family remain the biggest shareholders in Barratts Priceless, then rescued 220 of 380 stores out of administration in March 2009.
Deloitte will continue to trade the stores to find a buyer for all, or part, of the business. Barratts Priceless also has 371 concessions, with the bulk being in Arcadia Group's BHS and Dorothy Perkins shops. As a result, Arcadia's owner, Sir Philip Green, could play a key role in deciding the future of Barratts Priceless.
- 1 Nigel Farage: Me vs Russell Brand on Question Time – he's got the chest hair but where are his ideas?
- 2 Harry Potter fans can apply to the Hogwarts-inspired College of Wizardry
- 3 Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
- 4 Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
- 5 Orange Wednesdays are no more
Weather bomb in pictures: Storms cuts power for tens of thousands – and snow is on the way
Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
Russell Brand was rendered speechless on Question Time by this man
Fury at Airbus after it hints the super-jumbo may be mothballed
Disgruntled RBS worker writes hilarious open letter to Russell Brand after anti-capitalist publicity stunt leaves him hungry
Nigel Farage's approval rating hits 'record low' as popularity suffers in wake of Ukip sex scandal
Nigel Farage defends Kerry Smith 'ch***y' comment: 'If you are going for a Chinese, what do you say you’re going for?'
Pakistan school attack live: Taliban kill at least 132 children in 'horrifying' massacre
Sony hack: Angelina Jolie branded 'seriously out of her mind' in further embarrassing leaked email saga
Panic Saturday: 13 million Britons spend £1.2bn – while 13 million others across the country live in poverty unable to afford food
iJobs Money & Business
$200 - $350 per annum: Carlton Senior Appointments: Managing Producer Office...
$125 - $225 per annum: Carlton Senior Appointments: San Fran - Investment Advi...
Up to £70,000 per annum + benefits: Sheridan Maine: Are you a qualified accoun...
Up to £65,000 per annum + benefits: Sheridan Maine: Are you a qualified accoun...