Brantano's Shropshire stores rescued from administration
Three stores owned by footwear specialist Brantano in Shropshire have been rescued from administration.
A deal was struck earlier this week which saw 140 stores transfer to a company controlled by Alteri Investors, securing 1,372 jobs, although 58 stores were not included in the transaction and are still seeking a buyer.
Among the branches to have been saved in the rescue package are all three of Brantano's outlets in Shropshire.
Outlets in Harlescott Retail Park in Shrewsbury and Telford Bridge Retail Park were rescued, as was Brantano's Mere Park Garden Centre in Stafford Road, Newport.
Tony Barrell, Mike Jervis and Rob Hunt of PwC were appointed administrators of Brantano on January 21, and continued to run the business as normal while they sought prospective buyers for the chain.
Robert Moran, deals partner at PwC, who led the sales process, said: "From discussions held over the last few weeks, there was interest from a number of parties, both trade and private equity, for the Brantano business.
"Of this interest, the offer from Alteri represents the best outcome for creditors and employees. We are delighted that 1,372 jobs have been preserved through the transaction and thank the Brantano team for working closely and collaboratively with us throughout what has been a difficult period for the business."
Tony Barrell, lead administrator said: "We continue to trade the remaining Brantano business whilst discussions with interested parties continue.
"Unfortunately, in the event further sales are not possible, redundancies will become inevitable. We are working closely with Brantano employees and offering every support possible through this difficult period."
