Macintosh sells off Fashion UK amidst sales decline

Macintosh Retail Group has confirmed the long awaited sale of its Fashion UK division, which includes iconic footwear chains Jones Bootmaker and Brantano. The footwear retailers were sold to British investment company Alteri Partners, a Mayfair based firm established last year aiming to invest "stressed and distressed" retailers. Backed by US private equity firm Apollo Global Management, Alteri Partners acquired Fashion UK from the Dutch-based Group for an undisclosed sum.