Owners of Jones Bootmaker have hoisted ‘for sale’ signs over the 160-year-old business, leaving fears over the future of stores.
There are two Jones Bootmaker stores in Lincolnshire, one in the Waterside Shopping Centre in Lincoln, and one on Hight Street in Stamford.
The chain, which is one of the oldest names on the British High Street and owned by private equity firm Alteri, has filed a notice of intention to appoint administrators.
The notice will wive Alteri and advisors KPMG ten business days of protection from creditor claims.
According to Retail Week, where the news was first reported, one creditor filed a winding up order against the company on Friday.
There is no certainty that Jones will fall into administration. It could go through insolvency proceedings where its assets would be bought by a new owner.
Alteri bought Jones the Bootmaker in 2015 in a £12 million deal. It is understood it will not be buying back the business, unlike its rescue of Brantano last year, which saved around 1,370 jobs.