Footwear chain Pavers is planning to use the Barratts stores it has acquired as part of a push to grow its high street presence.
York-based Pavers has acquired 14 of the 75 stores in the UK and Republic of Ireland since Barratts entered administration in November, securing 150 jobs. Under the agreement, in which Pavers has acquired Barratts’ remaining stock for 58p in every £1, the stores must trade as Barratts for six months.
Managing director Stuart Paver said his business was looking to acquire as many as 15 further stores, with the ultimate aim of converting them into Pavers as part of an “expansion into the high street”. As a result, Pavers is aiming to break £100m turnover during its 2015/16 financial year, up from an expected £75m for 2013/14.
Meanwhile Harvey Jacobson, chairman of footwear brand house Jacobson Group, emerged as one of the buyers of Barratts’ website and intellectual property, as revealed on Drapersonline.com. The entrepreneur is now director of a new company, W Barratt & Co, which acquired the assets on December 20 for £300,000 plus VAT.