800 jobs at risk at British Brantano | RetailDetail

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.

Questions or comments? Please feel free to contact the editors


European purchase alliance Agecore puts pressure on Nestlé

16/02/2018

European purchase alliance, Agecore, has threatened to cut 160 Nestlé products from its list unless the Swiss agree to better conditions. Colruyt, Coop and Edeka are members of Agecore.

Kraft Heinz does not meet expectations

16/02/2018

American Kraft Heinz failed to live up to analysts’ fourth quarter expectations, both when it comes to turnover and profit. It did manage a 900 % increase of its profit, but that did not convince any analyst.

Strong second half of 2017 thrusts Danone forward

16/02/2018

Danone published a 2.5 % like-for-like growth for its fiscal year 2017, mainly thanks to a strong second half of the year with a 4.2 % like-for-like turnover increase.

Aldi Nord and Süd will not merge, but collaborate

16/02/2018

Aldi Nord and Aldi Süd confirm they will look into the possibilities of working together closely in regards to its German purchase and marketing division. Both companies however deny a future merger.

Aldi turns gaze towards Italy

16/02/2018

Aldi is ready to conquer the Italian market next month: it will instantly open ten new stores in the Southern European country, alongside its first distribution center near Verona.

Coca-Cola Europe's turnover grows 25 % instantly

16/02/2018

Turnover for Coca-Cola European Partners, the soda manufacturer’s European division, soared above 11 billion euro in 2017. Its profit also spiked compared to the year before.

Back to top