Barratts Shoes In Administration
Fashion shoe store Barratts has become the latest high-street store to be placed in administration.
The stores and four other chains owned by Bradford based firm Stylo, including Priceless Shoes have now been placed into then hands of a insolvency specialist, who will try to agree a rescue package for the firm.
Another 5,450 jobs will be at risk if no agreement can be made to save the shoe chains, although administrators from Deloitte will let trade go on as normal until the future of the company can be agreed.
Deloitte partner and joint administrator Daniel Butters said: "Stylo has faced a downturn in trading as a result of the current difficult economic and market conditions," reports The Sun.
This latest news follows the massive collapse of Woolworths and music store Zavvi before Christmas and reports yesterday that steel giant Corus is to axe 2,500 jobs in the UK.