Barratts Shoes gone into administration puts 3,840 jobs at risk

British shoe shop chain Barratts has collapsed into administration, becoming the latest victim of a downturn in consumer spending and putting 3,840 jobs under threat.

Deloitte, the business advisory firm, said on Thursday it had been appointed joint administrators over the Barratts Priceless Group.

"Barratts and Priceless Shoes have faced a downturn in trading as a result of the difficult economic conditions. This has been exacerbated by the unseasonably mild weather in recent weeks which resulted in fewer sales across new winter lines," said Daniel Butters, joint administrator and partner in Deloitte's restructuring services practice.

The Bradford-based firm has 191 shops in Britain trading as Barratts and Priceless Shoes and operates 371 concessions.

Deloitte said it would continue to keep the stores trading as it seeks a buyer for all or parts of the business as a going concern.
(fromGuardian)

this is the second time that barretts has been sold in the last couple of years.....