Brantano has followed sister retailer Jones Bootmaker by filing an intent to appoint an administrator, Retail Week has learned.
It is understood that the value shoe shop is going through the same sale process as Jones, which has been put on the block by owner Alteri.
But sources close to the situation said Brantano has filed the notice to appoint administrators in order to “buy it more time” and stave off circling creditors, who are seeking to recover debts.
Retail Week revealed yesterday that Jones Bootmaker filed the relevant documentation last Friday after experiencing ongoing “cashflow challenges” as Alteri seeks a buyer.
The private-equity firm is understood to have received “a number of very credible” offers for the footwear specialist ahead of Monday night’s deadline for bids.
Some of those want to buy the business as a going concern, while others are interested in a pre-pack administration deal.
Now it has emerged that Brantano is also up for sale, although Alteri is attempting to sell off the chains in two separate deals.
It is currently unclear when the deadline for bids for Brantano is, or how much interest has been registered in the business.
Sources said there was no guarantee that an administrator would be appointed.
As previously reported by Retail Week, property sources said that a pre-pack administration was “the most likely outcome” for Jones Bootmaker after Alteri drafted in KPMG to advise on options for the retailer.
Brantano has already been put through a pre-pack administration by Alteri, which bought 81 of its stores and 59 concessions out of administration in February last year.
The move saved 1,400 jobs.
Alteri acquired both Jones Bootmaker and Brantano from Dutch parent Macintosh in a £12m deal back in October 2015.
The firm has since invested in the businesses and drafted in former Links of London boss David Riddiford as chief executive last autumn in a bid to revive their fortunes.
But both retailers have continued to find trading tough amid a fiercely competitive trading landscape, which has been exacerbated by the weakening of the pound, the rise of the national living wage and the impending hike in business rates.