// Pentland Brands warned of 350 job cuts as part of strategic review
// The review is part of an effort to concentrate on a more focused brand portfolio
Pentland Brands has said at least 350 redundancies are likely to happen as part of a global strategic review which will also see it “hibernate” its Boxfresh brand.
The review is part of an effort to concentrate on a more focused brand portfolio with a reduced licensed footwear business.
Pentland Brands has shared this with its employees and is now in consultation with its teams.
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A number of planned changes to its business will aim to drive an increased emphasis on sustainability and bigger opportunities for its core brands, which are Speedo, Berghaus, Endura, Canterbury, Mitre, Ellesse, Kickers and SeaVees.
The group is also a major shareholder of JD Sports, which recently warned of further administrations and CVAs post-Covid.
Moreover, the group will also invest in its technology and digital platforms, including further expansion of the Pentland Brands retail customer website, which enables retailers to check stock in real-time and place brand orders directly 24/7.
“While our strategic review started before the Covid-19 pandemic, we know the crisis will have a major impact on our business for, at least, the next 12-18 months,” Pentland Brands chief executive Andy Long said.
“As a result, we’ve looked more deeply at the needs of the business and the fundamental and sustained changes that are required to thrive in the long-term,” he said.
“We know this is going to be a difficult time for our teams, and we’ll be incredibly sad to see some really talented people leave our business over the next few months, but our focus right now is on supporting those people impacted.”
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