Deathwatch: Barratts and Priceless Shoes in adminstration again
There’s a strong sense of déjà vu around here today – or should that be déjà SHOE? That’s because footwear retailers the Barratts Priceless Group has gone into administration for the second time in two years.
Keen-eyed administrators Deloitte have been brought in to run tings, tings in this case being 191 Barratts and Priceless Shoes stores across the land, with a further 371 concessions. The blame is being laid squarely at the door of the harsh economic climate and the not-very-harsh weather climate, with pre-winter shoe sales down owing to the unseasonably mild weather of recent months.
Deloitte said it would continue to keep the stores trading as it seeks a buyer for all or parts of the business as a going concern. Hopefully it won’t end in bad news for the 3,840 Barratts Priceless Group staff whose jobs are under threat following the bad news.