Two British footwear chains enter administration
Tuesday, January 27, 2009
Two British footwear chains have entered , a form of company liquidation in the United Kingdom. Both Barratts and PriceLess are owned by parent company . Stylo has not entered administration itself but shares have been suspended.
The chains have a joint workforce of around 5,450 employees and operate 400 stores around the United Kingdom. In February Stylo purchased 24 stores from shoe retailerafter it had gone bust.
A spokesman for Stylo said that they did not anticipate any short-term improvement in trading conditions. It was also mentioned that the company had the support of theand . No stores are yet planned to close.
Other companies that have entered administration due to the financial crisis include, , , and .
- "Shoe chains Barratts and Priceless in administration" — , January 26, 2009
- "Footwear chains in administration" — , January 26, 2009