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09/12/2011
Barratts Collapse Threatens 4,000 Jobs
Some 4,000 jobs have been put in jeopardy after the owner of shoe shops Barratts and Priceless Shoes was placed into administration on Thursday.
The Bradford-based chain, Barratts Priceless, has 191 stores across the UK, said it had suffered from a common retailing complaint of a mild Autumn that made already difficult trading conditions worse.
Daniel Butters, Neville Kahn and Adrian Berry, partners at Deloitte, have been confirmed as joint administrators of the group.
Mr Butters Barratts and Priceless Shoes had faced a downturn in trading as a result of the difficult economic conditions, exacerbated by the unseasonably mild weather in recent weeks which resulted in fewer sales across new winter lines.
"We will continue to trade the stores whilst we seek a buyer for all or parts of the business as a going concern. We are working closely with suppliers to ensure the business has the best possible platform to secure a sale, preserve jobs and generate as much value as possible for all creditors."
Barratts Priceless Group – which has recently established concessions in Wallis, Dorothy Perkins and Debenhams – previously went into administration in 2009.
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.
(DW)
The Bradford-based chain, Barratts Priceless, has 191 stores across the UK, said it had suffered from a common retailing complaint of a mild Autumn that made already difficult trading conditions worse.
Daniel Butters, Neville Kahn and Adrian Berry, partners at Deloitte, have been confirmed as joint administrators of the group.
Mr Butters Barratts and Priceless Shoes had faced a downturn in trading as a result of the difficult economic conditions, exacerbated by the unseasonably mild weather in recent weeks which resulted in fewer sales across new winter lines.
"We will continue to trade the stores whilst we seek a buyer for all or parts of the business as a going concern. We are working closely with suppliers to ensure the business has the best possible platform to secure a sale, preserve jobs and generate as much value as possible for all creditors."
Barratts Priceless Group – which has recently established concessions in Wallis, Dorothy Perkins and Debenhams – previously went into administration in 2009.
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.
(DW)
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