Foot Shop, the company behind comfort footwear brand Cosyfeet and specialist footwear retailer Walktall, has been sold to its management for an undisclosed sum.
Foot Shop founder David Price decided to sell the business to focus on working within the elderly care sector.
The company, which has an annual turnover of £13m, has been bought by Foot Shop managing director and Cosyfeet brand director Andrew Peirce, Foot Shop finance director Jackie Bemmer, Foot Shop web director and Walktall brand director Jim Lockyer, and Foot Shop operations director Nick Brine.
“We are delighted and excited about the future,” said Peirce. “The company is a good one, made up of many excellent and committed people, and together we look forward to building an even stronger business in years to come.”
The business will be run as a going concern without changes to its customer base or headquarters in Street, Somerset.
Walktall, which specialises in branded men’s footwear in sizes 12 to 19, was acquired by Foot Shop in 2005 and relaunched in 2006. Brands stocked include Adidas, Base London and Hush Puppies. Walktall sells via its website and through catalogues.
Cosyfeet, which also sells via its website and catalogues and has about 350 UK stockists, is an extra-wide footwear brand for people with swollen or bandaged feet. About 85% of its product is manufactured in Lancashire.