FASHION RETAIL NEWS UK
Treds sold to New Gray
14 February, 2019 | by Retail Bulletin
Shoe retailer Treds has been sold to New Gray Limited after entering administration last month.
The move will safeguard the jobs of all 159 Treds staff and all 21 stores will remain open.
Treds called in PwC last month as it looked to find a buyer for the business. It had struggled of late following a drop in profits.
Commenting on the sale, Ross Connock, PwC director and joint administrator, said: “This deal safeguards the jobs of all 159 members of staff and and the continued trading of all 21 stores. In an extremely challenging environment, the sale provides a much needed boost for for the retail sector and high street and stability for employees.”
