Brantano: collapse of shoe retailer puts 1,000 jobs at risk
Shoe retailer Brantano has gone into administration, putting more than 1,000 jobs at risk.
The chain was bought out of administration just over a year ago by a company controlled by turnaround specialists Alteri Investors.
Since then Brantano has suffered from the "depressed and competitive" footwear market, as well as the fall in sterling.
Alteri also owns Jones Bootmaker and is seeking a buyer for that chain.
Brantano, which sells "value" shoes, has 73 outlets and 64 concessions in the UK and employs 1,086 staff, including 71 at the head office in Leicestershire.
Administrators from PwC said the business would continue to trade as normal while a buyer is sought.
Lead administrator Tony Barrell said: "Like many other retailers, Brantano has also been hit hard by the sharp decline in sterling, the ongoing shift in consumer shopping habits and the evolution of the UK retail environment. Regrettably, it is inevitable that there will be redundancies."
Alteri Investors acquired Brantano and Jones Bootmaker in October 2015. Four months later Brantano went into administration and Alteri bought it back, minus a few stores.
The chain as subsequently has faced "difficult trading conditions", said PwC, "despite sustained efforts and streamlining to make the business more commercially viable. A sale of the company was explored and whilst it generated interest, unfortunately it has not been possible to achieve."