High street shoe retailer falls into administration

A major UK high street shoe retailer has plunged into administration, putting almost 4,000 jobs at risk.

Barratts which has an outlet in Dundee’s Overgate centre and Priceless Shoes will continue to trade while administrators Deloitte look to achieve a sale.

The group has 191 stores and 371 concessions across the UK and a total of 3,840 staff.

Joint administrator Daniel Butters said: ”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.

”We will continue to trade the stores whilst we seek a buyer for all or parts of the business as a going concern.

”We are working closely with suppliers to ensure the business has the best possible platform to secure a sale, preserve jobs and generate as much value as possible for all creditors.”