Jones Bootmaker is expected to go into administration later today, putting more than 1,100 jobs at risk, after talks with a potential buyer collapsed at the last minute.
It comes just days after Jones’s stablemate, Brantano, called in administrators on Wednesday. Both are owned by private equity firm Alteri Investors.
Sources told The Guardian negotiations to sell Jones to private equity investor Endless had fallen through because Alteri wants more for it than was on the table.
Footwear firm Pavers is still thought to be interested in buying some Jones stores to add to its 120-store portfolio. However, it is thought a deal is unlikely to be finalised in time to resolve Jones’s current cashflow issues.
Jones, which employs 1,145 people, has nearly 100 stores and a handful of concessions in department stores.