Jones Bootmaker to call in administrators, risking hundreds of high street jobs

Jones was established in 1857 and currently has over 100 branches throughout the country

Josie Cox
Business Editor
Wednesday 15 March 2017 14:02 GMT
Comments
Retail Week reported that Jones was also served with a winding up petition last Friday - is a legal notice that is filed to a court by a creditor who is owed money
Retail Week reported that Jones was also served with a winding up petition last Friday - is a legal notice that is filed to a court by a creditor who is owed money (Rex)

Support truly
independent journalism

Our mission is to deliver unbiased, fact-based reporting that holds power to account and exposes the truth.

Whether $5 or $50, every contribution counts.

Support us to deliver journalism without an agenda.

Louise Thomas

Louise Thomas

Editor

The owners of Jones Bootmaker have filed an intention to appoint administrators, potentially putting hundreds of high street jobs at risk.

According to industry publication Retail Week, Alteri – the private equity group that bought the footwear company for £12m in October 2015 — last month put Jones up for sale.

Several “very credible” offers had been made for the business, according to a source cited by Retail Week, but Jones had experienced a series of “cash flow challenges” throughout the bidding process, scuppering a potential deal.

Retail Week reported that Jones was also served with a winding up petition last Friday - is a legal notice that is filed to a court by a creditor who is owed money.

The aim of such a petition is to force a company into liquidation as a way of enforcing repayment of debt.

Sources told the publication that a pre-pack administration was now “the most likely outcome” for Jones.

Jones was established in 1857 and currently has over 100 branches throughout the country. It employs around 800 people in the UK, according the Guardian.

The Telegraph reported in February that Alteri had hired KPMG to explore all options for Jones.

A spokesperson for Alteri declined to provide further comment to the Independent.

Join our commenting forum

Join thought-provoking conversations, follow other Independent readers and see their replies

Comments

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in