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Friday, 9 December 2011

Barratts Shoes in administration again

Barratts and Priceless shoe shop chains collapsed into administration yesterday with some 4000 jobs under threat.  This is the second time in two years that the business has been run by the administrators.  The first time resulted in the closure of 220 of its then 380 stores.  But did the business change enough to stop further losses?

Barratts Priceless has 191 stores and  371 concessions with other retailers.  The administrators, from  Deloitte, said they are looking for a buyer for all or part of the business.

Deloitte restructuring partner Daniel Butters said the tough economic climate had been exacerbated for the business by the unseasonably mild recent weather which had hit sales of new winter lines.

Now there are so many retailers stuggling this recent administration did not really make the news as much was the case earlier in the year.

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