Jones Bootmaker poised for administration
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London - Now that Brantano has been placed into administration, sister footwear chain Jones Bootmaker is expected to enter administration on Friday as owner Alteri has failed to find a suitable buyer for the footwear retailer.
The move would see over 1,100 jobs at risk as the footwear retailer currently employs 1,145 people in close to 100 stores. Reports indicate that Alteri was previously on the edge of signing a deal with private equity firm Endless, current owner of Bathstore. However, the Guardian reported the agreement fell through as Endless was unwilling to pay Alteri asking price of 11 million pounds after placing a 10 million pound offer for Jones Bootmaker.
Fellow footwear retailer Pavers is said to have made an offer to acquire a number of the stores, but would not be willing to pay the hug rent bill attached - leading to speculation that a pre-pack administration deal could also be on horizon for Jones Bootmaker.
Photo: By Martin Pettitt, via Flickr