800 jobs at risk at British Brantano

800 jobs at risk at British Brantano

800 jobs at the shoe chain Brantano's British division are endangered after the owner decided to evaluate the company's structure with a possible bankruptcy as one of the options.

Major loss

Investment fund Alteri acquired Brantano's British stores in October, alongside its affiliate chain Jones Bootmaker. Its previous owner, Dutch Macintosh retail Group received 12 million pounds (16 million euro) for the transaction. The chain had a 4.6 million pound (6.2 million euro) pre-tax loss in 2014, despite a 6 % turnover increase to 100 million pounds (136 million euro).

 

Together with accounting firm PwC, Alteri is analyzing whether it needs to restructure the company. All options are on the table in that sense, meaning a bankruptcy could also be on the cards as that would enable Brantano to shed some debt.

 

Brantano has 140 stores of its own and another 60 franchise stores in the United Kingdom. If Alteri decides to go with bankruptcy or a restructuring plan for Brantano, Jones Bootmaker would not be part of that process.

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