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Faith suppliers appoint law firm

Angry suppliers to footwear chain Faith have appointed law firm Buss Murton to demand stock back from Mazars, the administrator of the retailer.

Seven furious suppliers have banded together in an effort to claw back some £10m they claim is owed to them by Faith.

According to The Financial Mail, last week Barclays, investment fund Agilo and Faith’s management sold the chain’s debt to a restructuring firm understood to be Hilco. Soon afterwards Faith was put into administration as revealed by Drapers.

Buss Murton has issued an order to return either the stock or its full value. It says it can prove the stock did not belong to Faith and should be returned.

Sources said that Debenhams may be interested in buying the Faith brand.


 

Readers' comments (3)

  • Faith fencing gear that doesn't belong to them. Shame on them.

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  • There is only one word in English that describs taking stock without paying for it ..... Faith must know what that is.

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  • Please don't blame Faith the brand, blame the Directors. We love Faith and it's very hard hearing the name being run down. x

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