FTI secures 2,000 Faith jobs in pre-pack sale
Faith Shoes sold in pre-pack deal by FTI
FTI Consulting has sold on Faith Shoes on the same day the retailer went into
In what is known as a pre-pack deal, FTI Consulting’s Simon Granger and Chad
Griffin were appointed joint administrators of Faith Shoes, then immediately
completed a sale of the business to retail entrepreneur John Kinnaird and
investment fund Agilo.
The deal secures over 2,000 jobs and allows the business to continue to
‘Having assessed all options available to the business and given the
financial challenges faced by the group, this transaction represents the best
possible outcome for all stakeholders in the circumstances,’ said David Morris,
senior managing director of FTI Consulting.
Faith will be combined with men’s clothing firm Envy, owned by Kinnaird, and
teenage fashion business Chilli Pepper, owned by Agilo.