Clarks calls in management consultants for business review

Clarks faces legal battle from ex-CEO Mike Shearwood over conduct allegations
Historic footwear retailer Clarks appoints McKinsey & Co to lead restructuring plan
// Clarks appoints McKinsey & Co to lead review of retailer
// Finance director Paul Kenyon leaves to join Independent Vetcare
// Philip de Klerk steps in as interim finance director

Historic footwear retailer Clarks has appointment management consultants to conduct a review of its business.

Founded in 1825, the British-based shoe manufacturer reported a loss after tax of £82.9 million in the full year to February 2 2019, more than double the £31.3 minion loss reported a year before.

READ MORE: Clarks sales drop in “extremely volatile” environment

According to the Sunday Times, Clarks have hired McKinsey & Co to put a restructuring plan in place.

Clarks operates 553 shops in the UK and Ireland with almost 12,000 members of staff.

The Sunday Times also noted that finance director Paul Kenyon would be departing the retailer to join Independent Vetcare, which is chaired by former WH Smith chief executive Kate Swann.

Former Low & Bonar chief executive Philip de Klerk will step in as interim finance director for the retailer.

Since the end of the 2018 to 2019 financial year, Clarks has appointed Giorgio Presca as chief executive, and has closed its last manufacturing warehouse in Somerset, which saw 35 redundancies.

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