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Brantano heads for administration

Footwear chain Brantano has filed notice of intention to appoint administrators, following sister brand Jones Bootmaker.

Brantano, which went into administration just over a year ago, is going through the same process as Jones but Drapers understands the retailers are being dealt with separately.

The administration notice, which was reported by Retail Week, protects the retailer from creditors seeking to recover debts.

Both businesses could still be sold as a going concern and Drapers understands owner Alteri Investors has received “credible” offers for Jones.

Kurt Geiger and turnaround firm Endless have expressed interest in buying Jones, Sky News has reported.

Last month turnaround investment company Alteri appointed advisers at KPMG to explore options for Jones, which include a sale or putting it into administration.

Footwear sources previously told Drapers Jones needs significant investment to turn it around and some feared administration could be used to shed unprofitable stores.

Alteri bought Jones Bootmaker and Brantano UK for €17m (£12.2m) from now bankrupt Dutch firm Macintosh in October 2015.

Brantano UK then fell into administration in January 2016, before being bought back by Alteri a month later.

Alteri declined to comment. 

 

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