The future of the Island’s Brantano store in Newport hangs in the balance as the discount shoe retailer go into administration.
Although Brantano’s 140 stores and 60 concessions across the country will trade as normal for now, it is unclear what the future holds for not only the company but the 2,000 people it employs. The business was bought by investment firm Alteri Investors around 4 months ago, but is now in the hands of administrators from PwC.
Tony Barrell, administrator at PwC, said:
“The continuing challenging conditions for ‘bricks and mortar’ retail stores are well documented.
“Like many others, Brantano has been hit hard by the change in consumers’ shopping habits and the evolution of the UK retail environment.
“The administrators are continuing to trade the businesses as normal whilst we assess the trading strategy over the coming days and weeks. Staff will be paid their arrears of wages and salaries, and will continue to be paid for their work during the administration.”
