Tue, 28 Feb 2017 | BUSINESS SALE
Jones Bootmaker, one of the oldest names on the British high street, has been put up for sale by its private equity owner Alteri Investors, reports say.
It is thought that Alteri has appointed KPMG to explore options for the future of the business, including a possible sale or administration.
Jones Bootmaker was established in 1857 when Alfred and Emma Jones opened their footwear shop in Bayswater, London. Today the firm, headquartered in Leicestershire, has more than 120 stores across the UK.
Alteri acquired Jones Bootmaker from Macintosh Retail Group in October 2015 in a £12 million deal that also included rival shoe retailer Brantano. That firm was put through a pre-pack administration last year.
Despite attempts by Alteri to modernise Jones Bootmaker, including launching an improved website, new head office, offering click-and-collect and investing in new product ranges, the company has decided to find a new investor for the business.
A number of UK retailers are facing significant pressure as they tackle business rates, rising wage bills and higher import costs driven by a weaker post-Brexit pound.
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The business is a turnkey operation with bespoke operating systems, this is achieved by the experienced and technical staff base that run the business day to day.
The company provides PAYE tax payers with assistance in claiming refunds for a variety of criteria, including expenses incurred from working from home, overpayments, and medical expenses.
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