Thu, 09 Feb 2012 | ADMINISTRATION
Footwear and clothing retailer Shoon has entered administration, after having been dragged down by its under performing shops.
The Somerset-based family-owned business operates 23 stores mostly in the South of England. Ian Robert from accountancy firm Kingston Smith LLP is carrying out a review of the business, which could lead to 280 redundancies and the closure of some of its loss making shops.
The business is continuing to trade while the review is taking place. The administrator is seeking a buyer and several parties have already made their interest known.
Mr Robert said: “We are actively seeking a buyer for the business and encourage interested parties to get in touch.”
Established by Michael and Rosalie Fiennes in 1982 in Wells, Somerset, Shoon sells branded shoes for men and women, accessories and women’s clothing. It has a shop on London’s Marylebone High Street and Old Bond Street in Bath, and also in Windsor, Winchester and Reading.
In a statement Shoon put the move into administration down to “the weak market and the fact we have been unable to economically dispose of our loss-making shops”.
“The current management team will be working with the administrator to seek to preserve the Shoon brand in a profitable and sustainable format,” the statement read.
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