Lincolnshire

Brantano enters administration for second time in just over a year

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National shoe retailer Brantano has re-entered administration due to the drop in Sterling, putting more than 1,000 jobs at risk across the country.

The brand has 73 stores and 64 concession across the UK, three of which are in Lincolnshire in Lincoln, Grimsby and Beales Skegness.

Despite attempts to sell the company to another chain Jones Bootmaker, which is also now currently at risk of administration, Brantano has been unsuccessful at this point in securing a buyer.

The national brand is however still talking to other potential buyers such as Endless, Kurt Geiger and Pavers.

When the company originally went into administration in January 2016, the majority of businesses had been sold to a company controlled by Alteri Investors, preserving 140 stores and concession across the country.

The company will continue to trade while administrators PriceWaterhouseCooper (PwC) asses its strategy.

Tony Barrell of PwC, who was appointed as lead administrator to Brantano on March 22, said: “Despite significant improvements in the business and reductions in the cost base, trading has continued to suffer in a depressed and competitive footwear market.

“Like many other retailers, Brantano has also been hit hard by the sharp decline in sterling, the ongoing shift in consumer shopping habits and the evolution of the UK retail environment.

“Regrettably, it is inevitable that there will be redundancies. Staff will be paid their arrears of wages and salaries, and will continue to be paid for their work while the business is in administration.”