Shuropody has received a “substantial investment” from an unnamed backer.
The troubled foot clinic and comfort footwear retailer is now jointly owned by managing director Mark Pinnock and the new investor.
Pinnock told Drapers the store estate would be refurbished in 2019 and the business plans on opening 20 new shops over the next three years.
Shuropody has 44 stores across the UK.
Pinnock said: “With this additional investment we will be able to realise our ambition to become the leading footcare provider in the UK. We will be refurbishing part of our existing estate and opening new stores across the country.”
Last month the business filed a notice of intention to appoint administrators. However, it is understood that administrators were not appointed.
In June Shuropody entered into a company voluntary arrangement (CVA) for the second time in just over a year. It filed notice of a CVA in April 2017.
You might also like...
Treds suppliers count cost of collapse
Footwear suppliers faced another blow to business this week as footwear retailer Treds went into administration, just two weeks after fellow shoe retailer FYFO collapsed.
Exclusive: Shuropody files intention to appoint administrators
Foot clinic and comfort footwear retailer Shuropody has filed a notice of intention to appoint administrators, Drapers can reveal.
Shuropody plans second CVA
Foot clinic and comfort footwear retailer Shuropody is planning to enter into a company voluntary arrangement (CVA) for the second time in just over a year, Drapers understands.
Shoon creditors to lose £1.6m
Unsecured creditors owed money by footwear retailer Shoon could lose a combined £1.6m following its pre-pack administration last month.
Suppliers fear losses from Shoon administration
Brands have expressed concern over the future of footwear retailer Shoon after it fell into administration last week.
Shoon acquires foot clinic Shuropody
Footwear retailer Shoon has bought foot clinic and comfort footwear retailer Shuropody for an undisclosed sum.
Rise in revenue for Air & Grace
Premium comfort shoe brand Air & Grace has reported a 100% increase in revenue and an 800% rise in net profits for the 12 months to 31 December 2018.
Profits almost halved at the John Lewis Partnership
Profits before bonuses, tax and exceptional items at the John Lewis Partnership – department store John Lewis & Partners and supermarket Waitrose & Partners – fell 45.4% to £160m for the year to 26 January.
Robbery investigation at Browns
Police are investigating an alleged armed robbery at designer boutique Browns’ Shoreditch store, Drapers can reveal.
Have your say
You must sign in to make a comment
Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.
Readers' comments (3)
Anonymous6 December 2018 5:05 pm
20 new stores before the next cva.
Not sure who will supply them but good luck.
Unsuitable or offensive? Report this comment
Anonymous7 December 2018 4:31 pm
Some supplier will
Unsuitable or offensive? Report this comment
Anonymous8 December 2018 12:56 pm
Shore-upody more like. Why can't bad businesses just die instead constantly going through the motions?
Unsuitable or offensive? Report this comment