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Exclusive: Shoon files intention to appoint administrators

Footwear chain Shoon has filed notice of its intention to appoint administrators at the High Court, Drapers can reveal.

The retailer filed the notice on 21 November, according to documents seen by Drapers. 

Group managing director Mark Pinnock declined to comment on the impending administration but told Drapers the business was on the verge of being sold: “We are close to concluding a transaction which will see the business being sold. It is a two-horse race and we anticipate the sale will be concluded by close of business Friday.”

Shoon completed its second company voluntary arrangement since 2015 on 27 July.

In its most recent results filed on Companies House for the year to 30 January 2016 turnover dropped 20% to £6.8m. The business made an operating profit of £575,402, up from an operating loss of £1.3m in 2015.

Shoon was bought by Pinnock in April 2015 after industry veterans Ken Bartle and Peter Phillips put it up for sale in January 2015.

Pinnock, who was backed by investment firm Tnui Asset Finance, was previously director at Essex-based catering company Savills Catering and recruitment firm for the transport industry Prima Services Group.

Shoon’s website shows it has stores in Winchester, St Albans, Salisbury, Leamington Spa, Guildford and Bath. It also has concessions in department stores Daniel of Windsor, Bratts Northwich and Bratts Nantwich.

In June 2016 Shoon bought foot clinic and comfort footwear retailer Shuropody for an undisclosed sum.

Shuropody is not thought to be affected. In its most recent accounts for the year to 31 January 2016 turnover at Shuropody dropped 14% to £16.8m. The group made an operating loss of £1.7m, compared with a loss of £1.5m the year before.

 

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