Value footwear retailer Brantano UK has gone into administration, putting 2,000 jobs at risk.
Brantano, which was sold by Macintosh Retail Group to Alteri Investors in October 2015, blamed difficult trading conditions for the collapse.
It has 140 stores and 60 concessions and employs around 200 people at its head office in Coalville, Leicestershire.
Tony Barrell, Mike Jervis and Rob Hunt of PwC have been appointed as joint administrators. Brantano’s sister company Jones Bootmaker is unaffected by the administration.
Lead administrator Barrell said: “The continuing challenging conditions for bricks-and-mortar retail stores are well documented. Like many others, Brantano has been hit hard by the change in consumers’ shopping habits and the evolution of the UK retail environment.
“The administrators are continuing to trade the businesses as normal whilst we assess the trading strategy over the coming days and weeks. Staff will be paid their arrears of wages and salaries, and will continue to be paid for their work during the administration.”
Robert Moran, deals partner at PwC, is leading the sales process. He said: “Brantano is an established value shoe retailer in the UK and Jones Bootmaker/Brantano businesses attracted considerable interest during the 2015 sales process. We are now assessing interest in the UK Brantano business as a whole or its parts and we welcome approaches from interested parties.”
Brantano lost £4.6m before tax last year, although sales increased by 6% to £100m.
Jones Bootmaker, which has 110 shops and 13 concessions in the UK, made a pre-tax profit of £315,000 for the year to December 31 2014. It made sales after exceptional items of £79.9m.
Macintosh, which still owns the Brantano chain outside of the UK, as well as European footwear retailers Manfield, Invito and Dolcis, appointed JJMC Huppertz and BWGP Meijs as joint administrators on December 22.