Shoon rescued from administration in management buyout
8 May 2012 | by The Retail Bulletin
Shoon, the shoe and accessories retailer which went into administration in February, has been sold to its existing management. The sale has saved 153 jobs.The company will continue to trade from its head office and distribution facility in Wells in Somerset It will also run 11 stores in Bath, Brighton, Cheltenham, Epsom, Guildford, Kingston-upon-Thames, Reading, Salisbury, St Albans, Tunbridge Wells and Winchester.
Ian Robert of administrators Kingston Smith and Partners said: "After marketing the business we received a number of offers, the strongest of which was from the company’s existing management supported by restructuring specialist GA Europe, whose industry knowledge I hope will be a real asset in leading Shoon towards a bright future."
"I am pleased that this deal has helped preserve over 150 jobs in both the stores and head office in Wells, whilst ensuring the survival of a long established retail brand."
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