Sears completed the sale of the last of its shoe retailing operations. It has sold Shoe City to Belgian retailer Brantano for £6m.
Brantano intends to continue to trade from 44 stores. Sears will close a further 39 with the loss of 650 to 700 jobs.
The sale represents the latest stage in Sear’ disposal of the British Shoe empire, which included brands such as Saxone and Dolcis. It retains the upmarket Cable chain although that is expected to be sold next month. The future of the British Shoe warehouse in Leicester is under threat.
- The Independent 24/12/97 page 15
- Financial Times 24/12/97 page 17
- The Guardian 24/12/97 page 11
- The Daily Telegraph 24/12/97 page 23
