Shoes and handbag retailer Jane Shilton could be sold as the company explores its financing options.
The retailer, which sells via three standalone stores, concessions and online, is “exploring its options”, according to sources. This could include a sale or refinancing.
In its last set of accounts at Companies House for the 15 months to June 30 last year, the retailer made a loss after tax of £1.4m. In its accounts, its auditor said: “These conditions indicate the existence of a material uncertainty which may cast significant doubt about the company’s ability to continue as a going concern.”
The accounts said the directors had laid out plans to try to reduce costs and said it would attempt to increase margins through more own-branded product.
Nobody from Jane Shilton was available for comment.
The company was set up more than 70 years ago by Alexander Shilton and was named after his wife Jane. In the 15 months to June 30, the retailer’s turnover was £20.3m. The brand is also sold in Russia, Scandinavia and Singapore.