Jobs at new Northampton footwear store at risk just one week after opening as chain enters administration
Over twenty Northampton jobs are at riskÂ after a national shoe retailer announced "inevitable redundancies" this morning.
Footwear-chain Brantano, which employs 1,000 people across the country, issued a statement today (March 22) announcing they had entered administration.
Two Northampton stores and 22 jobs are now threatened.
The announcement comes after a Brantano store was opened in Weston Favell Shopping Centre only a week ago.
Another store in St James Retail Park, off Towcester Road, employs 17 people.
Lead administrator Tony Barrell said in a statement: “Despite significant improvements in the business and reductions in the cost base, trading has continued to suffer in a depressed and competitive footwear market. Like many other retailers, Brantano has also been hit hard by the sharp decline in sterling, the ongoing shift in consumer shopping habits and the evolution of the UK retail environment.
“The administrators are continuing to trade the business as normal whilst assessing the trading strategy and any interest in parts of the business over the coming days and weeks. However, regrettably, it is inevitable that there will be redundancies. Staff will be paid their arrears of wages and salaries, and will continue to be paid for their work while the business is in administration.”
Brantano was acquired by another company in February 2016 has since "experienced difficult trading conditions, despite sustained efforts and streamlining to make the business more commercially viable," the statement said.