Footwear veterans Ken Bartle and Peter Phillips have acquired footwear retailer Shoon.
The pair, who are the former owners of Jones Bootmaker, have bought the 10-store business including its debt from restructuring specialist GA Europe. The value of the transaction has not been disclosed.
GA Retail supported a management buyout of Shoon in May 2012 after it fell into administration as well as taking a direct stake in the business. Over the last 18 months the business has been restructured and developed into new channels including concessions.
Gavin George, GA Europe’s chief executive, said he was delighted Bartle and Phillips could support the business in its next phase of development. He added: “We’ve enabled management to re-platform the business and complete the heavy restructuring necessary in the two years post administration.”
Shoon, which first launched in 1985, has stores across the south in locations including Bath, Guildford, Reading and Tunbridge Wells.
Bartle said: “Peter and I have been admirers of the Shoon concept since its inception and have watched its recent progress with interest. We are confident that the business has enormous potential and this deal represents a very good outcome for the Shoon brand, our customers and staff.”