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Endless buys struggling UK footwear retailer Jones Bootmaker

RBR Staff Writer Published 27 March 2017

UK footwear chain Jones Bootmaker, which has been on the verge of a collapse, has been acquired by investment firm Endless.

The £11m deal by Endless has saved 840 jobs and 72 stores of Jones Bootmaker along with the latter’s head office from getting closed.

However, 260 other employees and the remainder 31 stores of the footwear retailer were not part of the deal. The stores will be closed and the jobs will likely be lost.

This was because Endless had acquired Jones Bootmaker under a pre-pack administration deal, as reported by the BBC. It entitles Endless to buy the profitable portion of the business while omitting the non-profitable parts.

KPMG partner and joint administrator Will Wright said: "We are delighted that we have been able to rescue such an iconic UK footwear brand as Jones Bootmaker, including a high proportion of stores and preserving a large number of jobs, especially given the current economic pressures faced by retailers across the UK.

"This deal recognises the value of Jones as a strong and popular High Street brand with a loyal customer base."

Owing to the deal with Endless, Jones Bootmaker did not meet the fate of its sister company, Brantano, a discount shoe chain which slipped into administration last week after its administrators PwC failed to find any suitable buyers.

Brantano, which is on the brink of a collapse, has left uncertainty for more than 1,000 of its employees while over a hundred retail outlets and concessions across the UK are likely to be closed.

Both the footwear chains were owned by Alteri Investors which acquired them in October 2015 from the bankrupt Macintosh Retail Group. The two footwear companies were a part of the UK footwear firm Macintosh Fashion UK.

Image: A Jones Bootmaker in Southside Wandsworth, London Borough of Wandsworth, England. Photo: courtesy of Edward Hands/Wikipedia.org.