Daniel Butters, Neville Kahn and Adrian Berry, partners at
Deloitte, the business advisory firm, have been appointed Joint
Administrators over the Barratts Priceless Group.
The Group is headquartered in Bradford, with 191 stores across
the UK trading as Barratts and Priceless Shoes. In addition, it
also operates 371 concessions. At the date of our appointment, the
Group employs approximately 3,840 staff.
Daniel Butters, Joint Administrator and partner in Deloitte's
Restructuring Services practice, comments: "Barratts and Priceless
Shoes have faced a downturn in trading as a result of the difficult
economic conditions. This has been exacerbated by the unseasonably
mild weather in recent weeks which resulted in fewer sales across
new winter lines. We will continue to trade the stores whilst we
seek a buyer for all or parts of the business as a going
concern.
"We are working closely with suppliers to ensure the business
has the best possible platform to secure a sale, preserve jobs and
generate as much value as possible for all creditors."