Footwear retailer Brantano has filed notice of intention to appoint administrators, a day after Jones Bootmaker did the same
Both are owned by Alteri Investors, a venture capitalist specialising in investing in “challenging situations” in the European retail sector. This is not the first time Brantano has filed for administration, in January last year it fell into administration following difficult trading conditions and appointed PwC to run a sale process.
Alteri later bought it out of administration in a rescue deal by buying back 140 shops. The remaining 58 from its original portfolio closed.
As with Jones Bootmaker, Alteri will look to sell the business as a going concern, or through a pre-pack, but if no deal is agreed then its shops will close. Brantano shops range between 5,000– 10,000 sq ft.
Early investor interest for the brands suggests a deal could be possible. Up market brand Kurt Geiger and turnaround firm Endless are both considering buying Jones Bootmaker, while Edinburgh Wollen Mill Group is reportedly circling Brantano.
Alteri originally bought both brands for £12.2m in 2015 from Dutch firm Macintosh, which has since gone bankrupt.
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