The Joint Administrators of the Barratts Priceless Group today announced that they have been successful in finding a buyer of the business and the majority of its assets. The deal to the existing management team will ensure that the Barratts and Priceless brands and the online business will continue to trade. The sale will include 89 stores and has safeguarded 1,184 jobs. Regrettably the deal will result in the closure of 39 stores and 14 concessions and 680 additional redundancies.
Daniel Butters, Joint Administrator and partner in Deloitte’s restructuring services practice, comments: “We are delighted to have negotiated a deal, which will secure the employment of over 1,100 employees and ensure the Barratts and Priceless brands continue, especially given the adversity which has beset the High Street over recent months
Published: 16 January, 2012
http://www.footweartoday.co.uk/news/fullstory.php/aid/1647/Barratts_Priceless_Group_Update.html
Thursday, 19 January 2012
Barratts Priceless Group Update
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