Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Jones Bootmaker primed for £40m sale

Footwear retailer Jones Bootmaker is preparing to hoist a For Sale sign over the business.

Chief executive Ken Bartle and chairman Peter Phillips are thought to be seeking about £40m to £50m for the business, which operates 93 stores. The retailer is set to appoint accountancy firm BDO to handle the potential sale.

EBITDA at Jones Bootmaker almost trebled from £1.4m to £4m in the year to January 30, 2010, after its strategy to focus on more branded merchandise paid off.

The business is thought to be on track to generate EBITDA of £6m this year. It has outlined plans to overhaul its website this autumn to help it double online sales to £5m next year and will also open five shops this year.

A source told Drapers a sale closer to the £40m mark was more likely.

Bartle and Phillips, who together with a group of undisclosed investors own more than 70% of the business, ploughed £4.5m into Jones Bootmaker in March last year to regain control from private equity firm Arev and its Icelandic investment fund Kcaj, which were hit by the global financial crisis. The move reduced Arev and Kcaj’s stake to about 18%.

Fellow footwear chain Office was also put up for sale last month, with a potential price tag of up to £200m. Office is expected to circulate an information memorandum this month.

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.