The future of Hotter Shoes’ CEO Ian Watson remains uncertain, after the company was rescued by WoolOvers last week in a pre-pack administration sale.
According to BusinessCloud, multiple sources claimed Watson no longer worked at the struggling footwear retailer.
However, as of this morning the chief executive still remains on the Hotter Shoes’ parent company website, Unbound, and can be seen on Companies House as a director.
Watson has served as chief executive of the business since March 2019.
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Despite being the UK’s biggest shoe manufacturer in 2017, the company has since fallen on hard times.
Last week, Unbound revealed it was at risk of collapse, as it sought to secure up to £2m in emergency funding from shareholders.
The company drafted advisors from Interpath last month to start preparing emergency restructuring plans after terminating a formal sale process of its Hotter Shoes brand.
Analysts have blamed the retailer’s downfall on both Covid and the business’s change in direction.
This includes the Watson deciding to invest significant resources into setting up the marketplace website, Unbound.
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