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Jobs at risk as Brantano under review

Up to 800 jobs are at risk at footwear retailer Brantano as the new owner reviews the future of the business.

Turnaround fund Alteri, backed by US private equity firm Apollo Global Management, bought Brantano and its sister retailer Jones Bootmaker from the Dutch company Macintosh Retail Group for £12m in October.

Alteri is now working with accountant PwC to explore whether Brantano needs to be restructured, according to The Sunday Times. PwC advised Alteri on the original deal last year.

A source told the newspaper that, while no decision had been taken, administration is an option as it would allow Brantano to shed some liabilities. Jones Bootmaker is not thought to be affected.

Brantano has 140 stores and 60 concessions in the UK. It lost £4.6m before tax last year, although sales increased by 6% to £100m.

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