1,000 jobs are are risk as the footwear retailer has entered administration for the third time, with Duff & Phelps appointed as administrator. They admit that redundancies and store closures may be on the cards but as of yet, the future status of the business is unknown.
Unfortunately, an offer of £5 million to support the business was withdrawn on 7th November, leading to the present situation. Partner of Duff & Phelps, Philip Duffy, admitted 'the directors were left with no choice but to appoint administrators.'
Barratts previously went into administration in 2009 and 2011 with 4,000 jobs at risk at the time. This goes to show how the business has tried to downscale over time in the hope to continue selling.
We are not involved in the administration and questions should be directed to Duff & Phelps who are handling the administration.
If you are an employee of the business, and are worried, then please listen to the video below as it will tell you your rights as an employee of a business that is insolvent. There is a link at the end of the video to the Government website which expands further on what you need to know.