Johnsons Shoes falls into administration
A 50-year-old footwear retailer with 12 stores across the UK has become the latest casualty of the coronavirus pandemic.
Johnsons Shoes Company, a family-run business, has entered into administration after being forced to close all stores to halt the spread of the virus.
Administrators Ian Defty and Richard Toone from insolvency and restructuring firm CVR Global have opted to keep all 145 staff on furlough in the hope of finding a buyer willing to protect the jobs.
Johnsons Shoes Company operates stores in cities and towns including Windsor, Newbury, Staines, Teddington, New Malden and Twickenham under the brands Johnsons Shoes and Bowleys Fine Shoes.
Among others, the shops stock brands includingTimberland, Hotter, Barbour, Loake, Clarks, Gabor, Ugg and Ecco.
Ian Defty, partner at CVR Global, said: “Due to the coronavirus pandemic and lockdown Johnsons Shoe Company lost its ability to continue trading, and it was the final nail in the coffin for a business that was already struggling before the pandemic struck, like many other retailers.
“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.”
The administrators said they have received a number of expressions of interest in the company, adding that they will try to secure “the best deal for creditors”.
“The business’s products have mass family appeal, and if it can attract a buyer who can help it to adapt and trade, possibly via online channels, then it has a strong chance of continuing the strong legacy it has built up over the decades.”
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