Barratts Shoes in Kilburn and Wembley could close
PUBLISHED: 12:48 11 November 2013 | UPDATED: 12:48 11 November 2013
PA Wire/Press Association Images
Barratts Shoes which has branches in Wembley and Kilburn has gone into administration for the third time in four years.
Directors at the Bradford-based chain were left with no choice after an investor pulled out of a plan to inject £5 million at the end of last week as the company sought to shore up its finances, according to a statement.
Philip Duffy and David Whitehouse of financial advisory and investment banking firm Duff & Phelps were appointed administrators on Friday afternoon.
The administrators said they were reviewing the company’s financial position and seeking a sale of the business as a going concern but said: “At this stage redundancies and/or store closures cannot be ruled out.”
Barratts Shoes operates from 75 stores, including one on Wembley High Road and Kilburn High, and 23 concessions across the UK and Ireland.
The jobs of 1,035 people, of whom 521 are part time, are at risk.
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