Majority of Brantano UK acquired by Alteri Investors
Brantano UK, the value shoe retailer which was placed into administration last month, has seen the majority of its business sold to a company controlled by Alteri Investors.
The move has preserved 1,372 jobs and 140 stores and concessions.
Robert Moran, deals partner at PwC, who led the sales process, 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.”
Some 58 stores and concessions were not included in the Alteri acquisition.
Tony Barrell, lead administrator, added: "We continue to trade the remaining Brantano business whilst discussions with interested parties continue. Unfortunately, in the event further sales are not possible, redundancies will become inevitable. We are working closely with Brantano employees and offering every support possible through this difficult period.”