Deloitte administrators cut 1,610 jobs at Barratts
Joint administrators unable to sell concessionary stores resulting in more than 1,600 job losses
DELOITTE ADMINISTRATORS have been unable to find a buyer of Barratts shoes resulting in 1,610 job cuts.
Deloitte partners Daniel Butters, Neville Kahn and Adrian Berry were appointed joint-administrators of Barratts Priceless which at the time if its collapse employed about 3,840 staff.
Butters said: “Following a marketing of the Barratts Priceless businesses it is clear that a satisfactory sale of the concession to a new party will not be achieved.
“Accordingly, the joint administrators have regretfully had to make approximately 1,610 Barratts Priceless group full and part time employees working in the various concessions redundant.”
However, the administrators are working with various concessionaries to see if any staff can be re-employed.
This is the second time in two years Deloitte has been called to the retailer.
In 2009 Kahn, Butters and Lee Manning were appointed joint administrators. They managed to sell most of the stores to the Ziff family saving about 4,000 out of around 5,500 jobs.