Shoe Zone to close 90 Stead & Simpson stores
Naomi Shefford, marketing and property director at Shoe Zone, told the newspaper: "We have undertaken a thorough review of the Stead & Simpson business over the last few months which has culminated in the winding up of Tyler Ltd, the company that Stead & Simpson stores trade under."
Shoe Zone acquired Stead & Simpson in 2008 after the chain went into administration. Stead & Simpson operates 227 stores but Shoe Zone was unable to say which outlets will close.
According to accounts filed at Companies House, Tyler Group made a pre-tax loss of £704,000 in the year to 1 January 2011. Turnover dropped to £53.5 million, from £59.3 million in the previous year.
Shefford added: "Our staff are our number one priority and we appreciate the store closures have not been easy for them. However, where we have a Shoe Zone or another Stead & Simpson store near to any closures, we are doing everything we can to ensure our staff keep their jobs within the business."
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