Shoon shuts stores after entering into administration

London - Footwear retailer Shoon has entered into administration once more after attempts to find a suitable buyer did not succeed, leading to the loss of approximately 45 jobs.

Shoon appointed Neil Bennett and Alex Cadwallader from Leonard Curtis as joint administrators last week. The footwear chain has shut its stores in Winchester, St Albans, Leamington Spa, Somerset, and Guildford, as well as its concession stand in Daniel department store in Windsor, leading to a loss of around 45 jobs, according to a report from Drapers. Shoon's stores in Bath and Salisbury, as well as its concessions in Bratts stores in Northwich and Nantwich, has been sold to The Shoot Shoe Company. Employees at the four Shoon retail locations are set to retain their jobs.

"The intention was to sell the company as a whole but this did not prove successful," said Group Managing Director Mark Pinnock. "I can confirm that four of the sites have been sold, with staff jobs saved at those. Unfortunately, although there was strong initial interest in the remaining sites, this dissipated and six stores had to be closed." Its e-commerce platform remains operational.

The footwear retailer's second fall into administration comes not long after it finished its second company voluntary arrangement since 2015 on July 27. Shoon entered in administration for the first time back in 2012, after excessive retail expansion plans failed to pay off, leaving the retailer with over 2 million pounds in debt. GA Europe supported a management buyout of Shoon after it went into administration the first time, taking a direct stake in the business. Later on, in spring 2015, Pinnock purchased Shoon after it was put up for sale by industry veterans Ken Bartle and Peter Phillips.

According to its most recent account filed at the Companies House for the year to January 30, 2016, Shoon saw a 20 percent decline in turnover to 6.8 million pounds.

Photo: Shoon, website