Shoe chain Mr Shoes has become the latest footwear retailer to fall into administration.
The Norfolk-based shoe chain, which has 23 stores in the south of England and a transactional website, was placed into administration yesterday putting the future of around 60 employees in jeopardy.
Joint administrator David Whitehead from Larking Gowen said: “Unfortunately Mr Shoes is a victim of the recession and the problems retailers in the UK are facing. We are hopeful of keeping 14 of the stores open, unfortunately this means in the region of 60 people are likely to lose their jobs.
The business employs 130 people and had an annual turnover of £7m.
Whitehead added: “We have high hopes of being able to find a buyer for the company as it’s a good business with a sound pedigree that has fallen foul of these difficult trading conditions.”
In the last year several shoe businesses have fallen into the hands of administrators including Barratts and Priceless owner Stylo and JJB Sports’ footwear businesses comprising Qube and Original Shoe Company.