Barratts and Priceless enter administration
Published: 08 December, 2011
191-strong shoe chain collapses after weak autumn sales
Daniel Butters, Neville Kahn and Adrian Berry, partners at Deloitte have been appointed joint administrators over the Barratts Priceless Group.
The group is headquartered in Bradford, with 191 stores across the UK trading as Barratts and Priceless Shoes. In addition, it also operates 371 concessions. In all it employs approximately 3,840 staff.
Daniel Butters, joint administrator and partner in Deloitte’s restructuring services practice, said: “Barratts and Priceless Shoes have faced a downturn in trading as a result of the difficult economic conditions. This has been exacerbated by the unseasonably mild weather in recent weeks which resulted in fewer sales across new winter lines. We will continue to trade the stores while we seek a buyer for all or parts of the business as a going concern.
“We are working closely with suppliers to ensure the business has the best possible platform to secure a sale, preserve jobs and generate as much value as possible for all creditors.”
