BusinessBusiness RecoveryDeloitte administrators sell Barratts to management

Deloitte administrators sell Barratts to management

Administrators sell Barratts Priceless to existing management safeguarding 1,184 jobs

Deloitte administrators sell Barratts to management

DELOITTE ADMINISTRATORS have sold collapsed retailer Barratts Priceless to its existing management team.

Daniel Butters, Neville Kahn and Adrian Berry, partners at Deloitte, were appointed joint-administrators of Barratts Priceless, which at the time if its collapse employed 3,840 staff.

Unfortunately about 2,656 jobs were made redundant following the collapse of the shoe retailer.

However, the administrators have managed to salvage 1,184 with the sale of 89 stores.

Butters, said: “We are delighted to have negotiated a deal, which will secure the employment of over 1,100 employees and ensure the Barratts and Priceless brands continue, especially given the adversity which has beset the high street over recent months.”

About 39 stores and 14 concessions were closed.

This is the second administration for the firm in three years. 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.

Related Articles

Using insolvency as a debt recovery tool

Business Recovery Using insolvency as a debt recovery tool

4m Emma Smith, Managing Editor
Kingston Smith liquidators to distribute millions to Bond International Software PLC members

Accounting Firms Kingston Smith liquidators to distribute millions to Bond International Software PLC members

11m Stephanie Wix, Writer
SFP sells off Pixel Projects and saves all staff

Business Recovery SFP sells off Pixel Projects and saves all staff

11m Stephanie Wix, Writer
Smith & Williamson appointed administrators of 4Children

Accounting Firms Smith & Williamson appointed administrators of 4Children

1y Richard Crump, Writer
Big Four insolvency specialist joins Gibson Hewitt

Business Recovery Big Four insolvency specialist joins Gibson Hewitt

1y Richard Crump, Writer
Administrators from KPMG appointed to City Motor Holdings

Business Recovery Administrators from KPMG appointed to City Motor Holdings

1y Richard Crump, Writer
Johnston Carmichael appointed as joint administrators for Axon Well

Accounting Firms Johnston Carmichael appointed as joint administrators for Axon Well

1y Stephanie Wix, Writer
Begbies Traynor appointed administrators of William Anelay

Accounting Firms Begbies Traynor appointed administrators of William Anelay

1y Richard Crump, Writer