South Ruislip shoe store to survive after company sale

courtesy of Google maps courtesy of Google maps

A shoe retailer in South Ruislip which had been under threat of closure will continue to trade after a rescue package was agreed.

The future of Brantano in Victoria Retail Park in Victoria Road was looking in doubt after the national parent company went into administration due to “difficult trading conditions” earlier this year.

Like this story? Get free email newsletters via the form at the bottom of this article

But the majority of the business has been sold to a company controlled by Alteri Investors, preserving 1,372 jobs and 140 stores and concessions nationwide.

The South Ruislip store is listed among the branches that have been bought.

South Ruislip is set for a bonanza of new retailers, supermarkets and amenities in the short term future, with Asda, Lidl, Aldi arriving. The redevelopment of the old Arla dairy site will include an 11 screen cinema.

Related stories

Shaking seats and smells at new 4D Ruislip cinema

Asda, Lidl, Aldi and Arla revamp mean South Ruislip no longer 'poor cousin'

Ruislip roadworks to last 5 weeks as Arla and Asda development takes shape

Robert Moran, deals partner at PwC, who led the sales process, said there was interest from a number of parties, both trade and private equity, for the Brantano business.

He said: “Of this interest, the offer from Alteri represents the best outcome for creditors and employees. We are delighted that 1,372 jobs have been preserved through the transaction and thank the Brantano team for working closely and collaboratively with us throughout what has been a difficult period for the business.”

Tony Barrell, lead administrator, said: "We continue to trade the remaining Brantano business whilst discussions with interested parties continue. Unfortunately, in the event further sales are not possible, redundancies will become inevitable. We are working closely with Brantano employees and offering every support possible through this difficult period.”

He had previously stated the difficulties with the business, saying earlier this year: “The continuing challenging conditions for ‘bricks and mortar’ retail stores are well documented. Like many others, Brantano has been hit hard by the change in consumers’ shopping habits and the evolution of the UK retail environment.”

In total the company employed around 2,000 staff at the time administration was first announced, with the head office based in Coalville, Leicestershire, where 200 work.

Some 58 stores and concessions have not been included in the Alteri acquisition and the administrators said they continue to trade these stores whilst dialogue continues with interested parties.

Like this story? Get free email newsletters via the form below

Free email newsletter
Sign up for free email newsletters direct to your inbox

Rate this item
(1 Vote)

Free email newsletter

Sign up for free email newsletters direct to your inbox

hih

Find us on...

 Facebook

Twitter

 

Go to top

This website uses 'cookies' to give you the best, most relevant experience. Using this website means you are Ok with this. Click close to accept and continue.