Brantano cuts jobs at head office after going into administration
Brantano has axed 34 jobs at its Hinckley headquarters in Leicestershire as the business continues its search for a buyer for parts of the business after falling into administration at the end of March.
The redundancies have been made at the head office, which employs 71 people. In total, the Alteri Investors-owned business employs around 1,000 people across the UK.
Brantano went into administration on 22 March after struggling to cope with a rise in cost since the post-referendum fall in sterling.
Administrators Tony Barrell and Mike Jervis said they are assessing the trading strategy of Brantano and looking for interest in parts of the business.
However they had already warned there would be redundancies at the company.
“As part of the initial trading assessment, regrettably, 34 employees have been made redundant at its head office in Hinckley, Leicestershire. Our thoughts are with the affected employees and we are doing what we can to support them through this difficult time,” said Tony Barrell, lead administrator at PwC.
"We are continuing to trade the stores and concessions, whilst engaging in ongoing discussions with interested parties about the potential sale of parts of the business."
The future of the retailer’s 73 stores and 64 concessions still remains uncertain. The online store stopped trading last week.
This is not the first time Brantano slides into administration. The footwear brand called in administrators in 2016 only three months after being acquired by Alteri Investors, who said the business needed fundamental restructuring.
A company controlled by Alteri Investors bought back most of the shoe chain a month later, preserving 140 stores and concessions and 1,372 jobs.
Fast forward a year later and Brantano has fallen into administration again, hit by changing consumer habits, the sharp decline in sterling and the evolution of the UK retail environment.
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