The British company that operates the Barratts Shoes retail chain has gone into “administration,” the equivalent of receivership, and a buyer is now being sought to save the business.
Barratts Shoes has 15 stores across the Republic of Ireland and a similar number in the North, part of a 75 strong chain.
The group employs 1,035 staff across the UK and Ireland, half of whom work time.
Joint administrators Philip Duffy and David Whitehouse of Duff & Phelps were appointed to take control of the business on November 8, and are now looking for a buyer for the company and reviewing the company’s financial position.
Redundancies cannot be ruled out, the administrators said.
Joint administrators were appointed after a £7m rescue offer fell through last week.