Johnsons Shoes bought out of administration, six stores to continue
Nearly two months after it fell into administration, Johnsons Shoes Company, has been bought by Newjohn Ltd, which is part of the independent retailer Daniel Footwear. Half of its stores will continue.
The company operated stores under the Johnsons Shoes and Bowleys Fine Shoes brands and the new owner said its locations in Teddington, Twickenham, Walton-on-Thames, Farnham, Staines and Northwood have all been saved. They will continue to trade under the Johnsons name.
But its shops in Windsor, Newbury, East Sheen, New Malden, Beaconsfield and Richmond have ceased trading.
The family-owned firm failed in late May after trading for over half a century. It had struggled before the pandemic, but its business was devastated by the enforced closure of its 12 shops during lockdown.
It sells a wide variety of premium brands for adults and children including Timberland, Hotter, Barbour, Loake, Clarks, Gabor, Ugg and Ecco.
At the time of the administration filing, joint administrators Ian Defty and Richard Toone of CVR Global chose to keep all staff on furlough as they believed a buyer would be found for part of the business.
Defty said on Wednesday that “rescuing any high street retailer during one of the most volatile economic periods in living memory is no mean feat — so we are pleased to have saved a significant number of jobs and half of the store’s estate.
“The business has traded strongly for many years, but last year was particularly difficult for them as they battled with rising rent and business rates, combined with the increasing competition from online shopping.
“However, we believe we have found a buyer who, with more than 20 years of retail experience, is the perfect fit for Johnsons Shoes as they are ideally placed to help them expand their online presence and product offering.”
Copyright © 2022 FashionNetwork.com All rights reserved.