Footwear retailer Brantano has snapped up 28 out-of-town stores from the receivers of the failed Famous Brunswick Warehouse chain.
Brunswick was placed in receivership last month, along with its sister company, What Everyone Wants. Administrator Ernst & Young agreed a£2 million deal for the 28 stores, primarily in the north of England and Scotland.
All the stores will be rebranded by this Easter.
The stores - all on retail parks - have an average sales area of 530 sq m. This fits with Brantano's standard format, which trades from between 500 and 600 sq m. Prior to the acquisition, Brantano traded from 97 UK stores, having grown from 47 branches in 1997, when it entered the UK by buying the Shoe Express chain.
Brantano chief executive officer Kurt Moons said: 'The purchase fits perfectly into our growth strategy. We have been very selective and have only purchased those stores that have a strong growth potential and an acceptable rent review risk profile.'
In addition to the Brunswick acquisition, Brantano plans to open another 10 stores in the UK this year.
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