KPMG to rescue Dr Martens' soles
Corporate turnaround specialists from KPMG are to perform a 'fundamental' review of troubled bootmaker Dr Martens amid plunging sales and increasing overseas competition.
Despite diversification into clothing and a brief mid-90s revival as the footwear of choice for the ‘grunge’ generation, sales have declined and are expected to be well below the 5m pairs sold last year.
Parent company R.Griggs has been forced to close one of its three remaining UK factories and more cuts are thought likely.
The company plans to maintain output at its two remaining UK factories and the brand remains fully backed by family shareholders Max and Stephen Griggs.