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New Shoon owner vows stability within a year

The new owner of footwear retailer Shoon has said it is confident the business can be returned to growth within the next two years.

Restructuring specialist GA Europe, which supported a management buyout announced this week, said it would spend the next year working to stabilise the business in order to return it to a position of growth.

“We got involved with Shoon because we felt there is a space in the market for a shoe specialist offering comfortable product with a fashionable edge,” said Gavin George, European managing director of GA Europe.

“We think with the slimmed-down estate supported by a strong ecommerce proposition the business has potential.”

He added that, working with the incumbent management team, GA Europe would stabilise the business to ensure staff and suppliers are onside.

“Stabilising the business may take up to 12 months but after that we should be in a position to consider opening more stores and return it to a position of growth.”

Ian Robert, administrator at Kingston Smith, which handled the administration, said Shoon would no longer sell clothing.

Shoon’s Marylebone High Street store will close this month.

Readers' comments (2)

  • That store in Marylebone is HUGE.
    Rent must be, what £200k / £300k per year plus rates of £50k?
    What chance did it ever have? Needed to turnover £20k per week to be viable and with that product offer - no way only in dreamland.
    Wonder what will take it's place, it is a prime location. Probably be a good choice for a luxury brand.

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  • Actually, Ezekiel Sweiry, it turned over much more than 20K per week. Marylebone always had a really high turnover when I was with the company. Their product offer may not be your cup of tea, but it really works for some people. Everywhere on the high street does not need to be Topshop and Primark.

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