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.”
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