Brantano on brink of administration as potential buyers circle Jones Bootmaker

Footwear retailer Brantano has filed a notice of intention to appoint administrators, a day after its parent company did the same for sister brand Jones Bootmaker.

The administration notice gives the high street chain protection from creditors seeking to recover debts, and allowing it some additional time to secure a rescue deal with potential buyers.

Brantano first went into administration in January 2016 before being bought back private equity firm Alteri Investors.

Alteri is now reportedly putting Brantano through the same process as Jones but the two chains are being dealt with separately.

Both Jones and Brantano could be offloaded as a going concern or through a pre-pack administration whereby it enters insolvency proceedings but assets are acquired by a new owner.

The fate of employees at Brantano and Jones – the latter has around 800 staff members – is not yet known.

READ MORE: Jones Bootmaker files notice to appoint administrators

According to Sky News, Jones is currently in discussions with two potential buyers, fashion retailer Kurt Geiger and turnaround firm Endless, about a deal that could save jobs.

Rival footwear chain Pavers has also reportedly expressed interest in Jones.

Meanwhile, there is speculation that Edinburgh Woollen Mill Group is interested in acquiring Brantano, alongside a few other private equity firms.

Last month, Alteri appointed KPMG advisors to explore options for Jones, which include a sale or putting it into administration.

Alteri acquired Jones Bootmaker and Brantano in October 2015, in what was a £12.2 million deal from now-bankrupt Dutch firm Macintosh.

Click here to sign up to Retail Gazette’s free daily email newsletter


Please enter your comment!
Please enter your name here