shoe studio sold to Dune - HotUKDeals
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shoe studio sold to Dune

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7y, 10m agoPosted 7 years, 10 months ago
as quoted in$8Qy7fjJyMKYrH9CWG-nnhxQ0GhLJAUuwMjpGwzYpk7y4fbYyDb9fW9l1HMyG146C3yLQ4czJwbn$
Shoe Studio has been bought out of administration by Dune with the loss of 90 jobs.

The administrator confirmed the sale to the footwear chain today but said the sale did not include Shoe Studio's 11 remaining standalone stores.

The sale includes Shoe Studio's 300-plus concessions and the sale safeguards the remaining 1570 jobs at the outlets and 90 jobs at head office.

Joint administrator Phil Bowers of Deloitte said: "We are pleased to announce the sale of The Shoe Studio Group so quickly after the group was placed into Administration on March 2."

The acquisition builds Dune to a £150m turnover business with 45 stores, 300 concessions and 2,500 staff.

Dune's Executive Chairman Daniel Rubin said: "This is a very exciting opportunity for Dune. We have been looking to expand our concession business over the coming years and the purchase of SSG, with its unparalleled distribution outlets, fulfils this plan in one go."

Rubin said that the move means that Dune will be able to distribute in House of Fraser, where it currently does not have a presence.

Rubin said that he would not rule out opening some of Shoe Studio's brands as standalone shops in the future. He will also over time merge the two head offices, both of which are London-based.

He also said that the brands would play a big part in Dune's international expansion plans.
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7y, 10m agoPosted 7 years, 10 months ago

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