Pavers makes offer for Barratts
Shoe retailer Pavers has made an offer to buy parts of the collapsed Barratts footwear chain.
According to The Telegraph, Pavers is offering more than £5 million for the business.
Barratts entered administration early last month after efforts to secure refinancing and additional equity for the business failed. The retailer appointed Philip Duffy and David Whitehouse of Duff & Phelps as administrators who said they would seek to sell the business as a going concern. At the time of the administration, Barratts employed 1,035 people across the UK and Ireland.
Pavers operates 32 stores and 120 concessions in the UK. The retailer expanded into India in 2008 and now has a presence in 45 cities at 141 locations in the country. In the year to January 2012, Pavers achieved a turnover of £63 million and made a pre-tax profit of £5.3 million.