Footwear retailer Shoon has fallen into administration, leading to the loss of around 45 jobs, Drapers can reveal.
As exclusively revealed by Drapers last week, the struggling retailer filed notice of its intention to appoint administrators on 21 November at the High Court.
It has now emerged that the business appointed Neil Bennett and Alex Cadwallader from Leonard Curtis as joint administrators on 24 November.
The retailer’s stores in Bath and Salisbury, and concessions in the Bratts stores in Northwich and Nantwich, have been sold to The Shoot Shoe Company.
Shoon’s remaining shops in Winchester, St Albans, Leamington Spa and Guildford, a concession in Daniel department store in Windsor, and a store at its head office in Wells, Somerset, have closed. Around 45 jobs have been axed as a result.
Group managing director Mark Pinnock said: ”The intention was to sell the company as a whole but this did not prove successful. I can confirm that four of the sites have been sold, with staff jobs saved at those. Unfortunately, although there was strong initial interest in the remaining sites, this dissipated and six stores had to be closed.”
Shoon was bought by Pinnock in April 2015 after industry veterans Ken Bartle and Peter Phillips put it up for sale in January 2015.
Pinnock, who was backed by investment firm Tnui Asset Finance, was previously director at Essex-based catering company Savills Catering and recruitment firm for the transport industry Prima Services Group.
In its most recent results filed on Companies House for the year to 30 January 2016, turnover dropped 20% to £6.8m. The business made an operating profit of £575,402, up from an operating loss of £1.3m in 2015.
Shoon completed its second company voluntary arrangement since 2015 on 27 July.