Brantano and Jones Bootmaker, two of Britain’s biggest footwear chains, are on the market.
Alteri Investors, an investment firm created to buy struggling retailers, is in advanced talks with the retailers’ Dutch parent company Macintosh. It is understood that Alteri has made offers which are at the low end of the originally expected range. Macintosh is currently in the process of evaluating these offers.
If a transaction is agreed, it will begin to cement Alteri’s portfolio which already shows interest in fashion business Austin Reed. Earlier this year, Alteri funded a three-year loan for the menswear retailer.
Macintosh put Jones Bootmaker, which has approximately 170 stores, and Brantano, which trades from about 120 shops, up for sale earlier this year.
According to Sky News, a number of other bidders have submitted offers for Jones Bootmaker and Brantano, which are said to be valued somewhere in the region of £20m.