A deal for footwear retailer Shoon, which was forced into administration last month, looks to be imminent after its administrator received five offers.
A document sent to creditors of the 23-store retailer, which went into administration on February 9, revealed that five firm offers for the business have been made. Administrator Ian Robert from corporate recovery firm Kingston Smith confirmed this, telling Drapers he was hopeful a sale would happen in the next month.
What remains of the business is expected to be about 18 stores. Two of Shoon’s 23 stores in Shrewsbury and Bluewater closed immediately following administration and a further store in Walton-on-Thames in Surrey closed earlier this week. Another two stores are expected to close within the next week, although Robert declined to reveal their location.
“We made no secret of the fact there were unprofitable stores,” he said. “It is uneconomical to continue to trade in those stores and so unfortunately some stores have to close as part of this process.”
Buyers from Shoon were present at footwear show GDS, held in Düsseldorf last week, buying stock for autumn 12.
“We saw buyers from Shoon on our stand and they’ve bought from us for autumn 12,” said David Tomlinson, operations manager at comfort footwear brand Steptronic.
“They are one of our best customers and so we are happy to continue to work with them and want to support them. [Shoon] is a great business so we hope that a solution can be reached.”
Robert said Shoon buyers had visited shows to ensure it has enough stock to trade next season.
“Shoon is not going to go away. It is a great brand and we want it to remain as such,” he added.