Aldo UK enters administration
Shoe retailer Aldo UK has gone into administration after its business was hit by the impact of the coronavirus pandemic.
The move follows news of the brand’s Canadian parent company filing for bankruptcy protection last month.
Some five UK stores have already been permanently closed and administrators from insolvency specalists RSM are considering the future of the remaining eight stores.
David Bensadoun, chief executive of Aldo Group, said: “It is a difficult decision to close our stores in the UK market, but it is unavoidable given the current business environment and the impact of the Covid-19 pandemic.
“We thank our associates, customers and vendors in the UK for being a part of our story since 2002.”
UK shoppers are still be able to buy Aldo products online and the brand’s shoes are also stocked by Selfridges, House of Fraser and Debenhams.
Aldo Group said the company will remain a global brand after the proceedings and will still have a presence in more than 100 countries.
