Footwear chain Shoon has been taken over by businessman Mark Pinnock after industry veterans Ken Bartle and Peter Phillips put it up for sale in January.
Pinnock, who has been backed by investment firm Tnui Asset Finance, is now managing director of the 10-store retailer. He was previously director at Essex-based catering company Savills Catering and recruitment firm for the transport industry Prima Services Group. Accountancy firm BDO advised Shoon on the sale.
Bartle and Phillips, who previously ran footwear chains including Jones Bootmaker, Stead & Simpson and Gordon Scott, bought Shoon and its debts from restructuring specialist GA Retail in January 2014. GA Retail had supported a management buyout of Shoon in May 2012 after it fell into administration.
However, Bartle and Phillips decided to sell the chain earlier this year after Phillips suffered a spell of ill health.
Following news of the Shoon sale, one footwear source told Drapers Bartle and Phillips may now turn their attention back to Jones Bootmaker for a third time, after its owner, Dutch company Macintosh Retail Group, put it and sister footwear business Brantano UK up for sale last month. Bartle and Phillips owned it from 2001 and sold it in 2005 to Icelandic bank Arev while retaining a substantial stake. The pair then took control of the company again in 2008 before selling to Macintosh in 2011.
The source indicated the duo would not be interested in buying Brantano UK as part of the deal, unless it came with a “dowry”.
“I don’t see any shoe business taking [Brantano UK] on; it has too many out-of-town stores. They would have to get rid of it.”
Another footwear insider described Jones Bootmaker as a “great little business” and agreed that any buyer would likely offload Brantano UK following the sale.