Hotter parent company Unbound Group intends to appoint Interpath Advisory as administrators to the group’s main operating subsidiary, Beaconsfield Footwear, which includes Hotter Shoes.
This comes as Unbound Group announced the end of its formal sale process at the end of last month as well as an update on its strategic review.
The footwear retailer said today in a statement on the London Stock Exchange that it is “now clear to the board that it is no longer appropriate to progress” further with discussions relating to a restructuring plan, an equity fundraise or the possibility of an acquistion of the group’s bank debt.
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