Brantano falls into administration for second time in 14 months
Jobs at risk as PwC warns shoe retailer's 1,100 staff that redundancies are 'inevitable'

Shoe retailer Brantano has collapsed into administration for the second time in 14 months.
Private equity firm Alteri Investors, which bought the long-time loss-making business and its sister brand Jones the Bootmaker for £12m in October 2015, has taken action after failing to secure a buyer. Jones is also said to be on the brink of following suit if attempts to secure a rescue bid fall short.
Alteri first put the retailer into administration in January 2016, says the BBC, before buying it back, although the total number of stores was reduced from 200 to close to 140.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Brantano now has 73 outlets and 64 concessions employing a total of 1,086 staff, down from almost 1,400 when it was rescued in February 2016.
Tony Barrell, of lead administrator PwC, said it was "inevitable that there will be redundancies" among the remaining workforce.
He added the business would continue to trade as normal while a buyer is sought.
Brantano, which pitches itself as a budget retailer, has suffered a significant hit to its tight margins due to the slump in the pound following the vote for Brexit, which has increased import costs.
However, its problems are much longer-term and are in part a reflection of the increasing move into footwear by many mainstream clothing retailers, such as Next and H&M, and also of its concentration in out-of-town shopping centres.
Maureen Hinton, retail research director at research firm GlobalData, told The Guardian: "Brantano… had to be a destination to attract people and that was always going to count against it."
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
-
May 31 editorial cartoons
Cartoons Saturday's political cartoons include how much to pay for a pardon, medical advice from a brain worm, and a simple solution to the national debt.
-
5 costly cartoons about the national debt
Cartoons Political cartoonists take on the USA's financial hole, rare bipartisan agreement, and Donald Trump and Mike Johnson.
-
Green goddess salad recipe
The Week Recommends Avocado can be the creamy star of the show in this fresh, sharp salad
-
Labour shortages: the ‘most urgent problem’ facing the UK economy right now
Speed Read Britain is currently in the grip of an ‘employment crisis’
-
Will the energy war hurt Europe more than Russia?
Speed Read European Commission proposes a total ban on Russian oil
-
Will Elon Musk manage to take over Twitter?
Speed Read The world’s richest man has launched a hostile takeover bid worth $43bn
-
Shoppers urged not to buy into dodgy Black Friday deals
Speed Read Consumer watchdog says better prices can be had on most of the so-called bargain offers
-
Ryanair: readying for departure from London
Speed Read Plans to delist Ryanair from the London Stock Exchange could spell ‘another blow’ to the ‘dwindling’ London market
-
Out of fashion: Asos ‘curse’ has struck again
Speed Read Share price tumbles following the departure of CEO Nick Beighton
-
Universal Music’s blockbuster listing: don’t stop me now…
Speed Read Investors are betting heavily that the ‘boom in music streaming’, which has transformed Universal’s fortunes, ‘still has a long way to go’
-
EasyJet/Wizz: battle for air supremacy
Speed Read ‘Wizz’s cheeky takeover bid will have come as a blow to the corporate ego’