Suppliers to Jones Bootmaker have complained of “radio silence” in the days following its sale to private equity firm Endless, prompting concerns about what the future holds.
KPMG was appointed administrator of Jones on 24 March. Later that day, private equity firm Endless acquired 72 of its stores in a pre-pack deal, securing around 840 jobs in the UK.
Several Jones suppliers have told Drapers they have yet to speak to Endless or KPMG.
“We’ve heard nothing. Radio silence,” one supplier said. “Our solicitor has tried to get in touch with them, but we’ve had absolutely no response. It’s not on.”
Another supplier agreed: “It would be nice to know where suppliers stand. We are owed a six-figure sum so it’s a worry.
“We have stock still outstanding for Jones but if we don’t get an update from them by the end of the week we will release it to other people to buy. If they mess us around we will walk away.”
A spokeswoman for KPMG said: “Following the appointment of the joint administrators to Jones Bootmaker late on Friday, our first priority was to contact all employees, and in particular those who were affected by redundancy.
“The joint administrators are now in the process of making contact with all of the company’s creditors.”
The sale to Endless excluded 25 underperforming stores and six concessions, which closed immediately, resulting in 262 job losses.
The deal occurred two days after Jones’ former stablemate Brantano collapsed into administration, after a search for a buyer failed.