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Free P and P @ Faith
Free P and P @ Faith

Free P and P @ Faith

just got this email

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err, didn't they go into administration or am i going mad?

More than 2,000 jobs have been safeguarded at struggling footwear chain Faith Shoes after the group was bought in a rescue deal led by retail entrepreneur John Kinnaird.
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[*] ]More on retail[/LIST] Mr Kinnaird, former owner of Dolcis, has teamed up with investment fund Agilo to buy Faith from administrators for an undisclosed sum.
The deal will see the Faith brand saved after its future was left hanging in the balance when previous owners, private equity firm Bridgepoint Capital, was reportedly forced to put the business up for auction after failing to reach agreement with its bank Barclays.
Faith, which has 85 stores and more than 120 concessions across the UK, will now be merged with Mr Kinnaird's existing clothing brand Envy and Agilo's teenage fashion business Chilli Pepper to create a new high street presence. Agilo, set up last year, specialises in buying distressed companies and includes former Conservative MP Michael Portillo as an adviser.
The new business will have around 140 stores across the UK, as well as more than 200 concessions in the UK and Europe. It is understood that department store partners include House of Fraser, Debenhams and major Paris store Galeries Lafayette.

cdm22;4275488

err, didn't they go into administration or am i going mad?



Barratts have too apparently :-(

Majority 25% off.
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