Jobs saved after two Nottinghamshire branches of shoe retailer are bought out

Two Nottinghamshire branches of the shoe retailer Brantano have been sold.
Two Nottinghamshire branches of the shoe retailer Brantano have been sold.

Jobs have been secured at two branches of the shoe retailer Brantano after the company was bought out of administration.

Jobs have been secured at two branches of the shoe retailer Brantano after the company was bought out of administration.

Alteri Investors has bought 140 stores and concessions, safeguarding 1,372 jobs.

However, 58 stores and concessions have not been included in the Alteri sale and the administrators are continuing to trade these stores while seeking buyers.

Stores in Mansfield and Bulwell have been sold but buyers are still being sought for stores in Sutton and Newark.

Robert Moran, of administrators PwC, said: “From discussions held over the last few weeks, there was interest from a number of parties, both trade and private equity, for the Brantano business.

“Of this interest, the offer from Alteri represents the best outcome for creditors and employees.

“We are delighted that 1,372 jobs have been preserved through the transaction and thank the Brantano team for working closely and collaboratively with us throughout what has been a difficult period for the business.”