Stead & Simpson buy-out

According to media reports, the Bank of Scotland is planning to back the £42 million management buyout of shoe chain Stead & Simpson. The chain is said to be in talks with its management about a potential buyout backed by the Bank of Scotland's finance division. The company operates approximately 400 stores under the brands Stead & Simpson, Peter Briggs, Shoe Express and Famous Footwear. Following a buyout, shareholders in the company would be able to cash in their shares.