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


Will Kraft Heinz acquire Danone?

22/08/2017

There are rumours that Kraft Heinz will target Danone after it failed to acquire Unilever. However, analysts feel the water between both companies is still fairly deep.

German Rewe targets Luxembourg

22/08/2017

German supermarket chain Rewe has turned its attention to the Grand Duchy of Luxembourg. It recently opened a store in Echternach and will soon open several others, which spells bad news for other chains, like Ahold Delhaize.

Aldi sells games in Germany

21/08/2017

Aldi (Nord and Süd together) will start selling online video games in Germany, starting today. The day has been meticulously chosen, because Europe’s largest gaming convention opens its doors in Cologne on the 22nd of August.

Walmart files patent for flying store

21/08/2017

American department store chain Walmart has filed for a very peculiar patent, regarding a flying store. The store should be able to bring orders to the customer’s door step thanks to drones.

Lotus Bakeries grows despite weaker British pound

21/08/2017

Despite a weaker British pound, cookie manufacturer Lotus Bakeries managed a 1 % turnover increase in the first half of 2017. A record growth in 2016 did provide an enormous comparison, but it succeeded.

Fipronil crisis forces waffles out of French supermarkets

21/08/2017

Several waffles have been taken off of French shelves because they contain eggs that may have been contaminated with fipronil. A range of Lotus frangipane waffles is on the list.

Back to top