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.