Thu, 16 Jul 2020 | BUSINESS SALE
Johnsons Shoes Company has been acquired out of administration by Newjohn Limited, with half of its stores set to continue trading. Newjohn, part of independent retailer Daniel Footwear, said that locations in Teddington, Twickenham, Walton-on-Thames, Farnham, Staines and Northwood would remain open, with shops in Windsor, Newbury, East Sheen, New Malden, Beaconsfield and Richmond closing.
As we reported here, Johnsons Shoes Company, which trades as Johnsons Shoes and Bowleys Fine Shoes, originally filed for administration in May, citing online competition and the impact of the COVID-19 pandemic. Ian Defty and Richard Toone of CVR Global were appointed as joint administrators.
Johnsons, a family-owned business, has been trading for over 50 years and stocks 27 premium shoe brands including Timberland, Hotter, Barbour, Loake, Clarks, Gabor, Ugg, Ecco and Converse.
Joint administrator Ian Defty said that “rescuing any high street retailer during one of the most volatile economic periods in living memory is no mean feat — so we are pleased to have saved a significant number of jobs and half of the store’s estate.”
“The business has traded strongly for many years, but last year was particularly difficult for them as they battled with rising rent and business rates, combined with the increasing competition from online shopping.”
“However, we believe we have found a buyer who, with more than 20 years of retail experience, is the perfect fit for Johnsons Shoes as they are ideally placed to help them expand their online presence and product offering.”
Find businesses for sale here.
If you are looking for an exit, we can help!
Explore the unique opportunity to acquire a niche fashion brand with an established online presence and retail operations.
LEASEHOLD
A unique opportunity to acquire a renowned ladies' clothing brand with a strong London presence is now available.
LEASEHOLD
Opportunity to acquire a well-positioned gun shop in Lancashire, situated in a detached property within a residential area, ideal for a buyer looking to tap into a thriving marketplace.
LEASEHOLD
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.