Jobs saved at Gainsborough branch of shoe retailer

The Gainsborough branch of Brantano has been bought out.
The Gainsborough branch of Brantano has been bought out.

Jobs have been secured at the Gainsborough branch of Brantano after the company was bought out of administration.

Alteri Investors has bought 140 stores and concessions, including Gainsborough, safeguarding 1,372 jobs.

However, 58 stores and concessions have not been included in the Alteri sale and the administrators are continuing to trade these stores while seeking buyers.

Robert Moran, of administrators PwC, said: “From discussions held over the last few weeks, there was interest from a number of parties, both trade and private equity, for the Brantano business.

“Of this interest, the offer from Alteri represents the best outcome for creditors and employees.

“We are delighted that 1,372 jobs have been preserved through the transaction and thank the Brantano team for working closely and collaboratively with us throughout what has been a difficult period for the business.”