- October 21, 2016
Brantano discount shoe retailer that has 140 stores, 60 concessions, 2000 staff and a website we’ve featured many times in the past have gone into administration (run out of money).
Administrators from PwC are now running the Leicestershire-based business, which they said would trade normally while they sought a buyer.
PwC’s Tony Barrell said the chain was a victim of changing consumer habits:
“The continuing challenging conditions for ‘bricks and mortar’ retail stores are well documented.
“Like many others, Brantano has been hit hard by the change in consumers’ shopping habits and the evolution of the UK retail environment.”
“The administrators are continuing to trade the businesses as normal whilst we assess the trading strategy over the coming days and weeks.
“Staff will be paid their arrears of wages and salaries, and will continue to be paid for their work during the administration.”
Brantano was purchased alongside Jones Bootmaker by retail investment firm Alteri Investors in October 2015 from Dutch-based Macintosh Retail Group. Jones is not affected by the administration.
This is the first large retailer to run into difficulties after the Christmas period, often this period is known as the ‘make-or-break’ time for a struggling company..
It is rumoured that they already have potential buyers ready to take over the company, so cross your fingers for the employees.
Yes, however, we would be very hesitant buying anything online, as you risk paying and never getting the goods. If you have a local store then it would be worth supporting them just remember that if they close completely then your 12 month standard warranty would probably also disappear as you would have no company to return the products to.