Thu, 05 Jan 2012 | ADMINISTRATION
The administrators for Barratts Priceless are still searching for a new owner for the embattled business despite announcing 1,600 job losses last week.
The shoe retailer went into administration in early December for the second time in two years, amidst fears that the firm could fail to meet its obligation on its 25 December rent day.
The job cuts will be rolled out across its 191 UK and Ireland stores. It also has 371 concessions, 359 of which are in Arcadia Group stores.
Joint administrator Daniel Butters commented, “Following a marketing of the Barratts Priceless businesses it is clear that a satisfactory sale of the concession to a new party will not be achieved.
“Accordingly, the joint administrators have regretfully to make approximately 1,610 Barratts Priceless Group full and part-time employees working in the various concessions redundant.”
The joint administrators are in “active discussions to rescue a significant part of the remaining business.”
The administrators are talking to several concessionaires to see how many of the affected staff can be re-employed, a Deloitte spokesman said.
Previous story - 18 Barratts and Priceless stores shut as buyer search continues.
This market-leading software development company specialising in mobile applications and custom solutions is now available for acquisition, boasting a robust client base, strong financial performance, and promising growth potential within a thriving...
A unique opportunity to acquire a company with a solid presence in the bespoke event structures field, renowned for its strong client relationships within the festivals, automotive, and sports sectors. With a capable management team and potential gro...
An established and profitable lettings and estate agency in Leeds is now available for acquisition.
28
|
Apr
|
French group Egis buys U.K. engineering firm Omnia Projects | BUSINESS SALE
French group Egis has acquired Omnia Projects, a UK-based en...
28
|
Apr
|
IT group KubeNet snaps up Scottish peer ISN Solutions | BUSINESS SALE
Glasgow-based internet service provider and managed IT speci...
28
|
Apr
|
Montrose-based Crawford Architecture chooses employee ownership | BUSINESS SALE
Montrose-based Crawford Architecture has transitioned to emp...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
We can help you capitalise on insolvent businesses. We list UK businesses in administration, liquidation and with winding up petitions daily. Ensuring our members never miss out on an opportunity
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.