Several suppliers, which are understood to be owed about£11 million, have today submitted a letter to Stead & Simpson’s administrator PricewaterhouseCoopers calling for a creditors’ meeting.
One supplier said the amount suppliers are owed from the pre-pack administration deal was much higher than originally thought. She pointed out that, after instructing solicitors to look into their case, a couple of the larger suppliers have been reimbursed for stock they delivered to Stead & Simpson in the days preceding its collapse into administration.
“It’s not fair that some of the larger suppliers have either got their stock back or been paid for what they delivered and others are left with nothing,” the supplier added. “Those of us left with nothing want some answers.”
Stead & Simpson was sold to Shoe Zone in January this year and some suppliers questioned why the retailer continued to accept deliveries shortly before it was placed into administration.
Last month, Leicester supplier Now Shoes was forced into administration because it was owed£650,000 and, since then, two other unnamed suppliers are understood to have gone out of business. Another supplier is thought to be owed£1.2 million. Other creditors, including landlords and energy suppliers, are understood to be owed about£30 million collectively.
A spokeswoman for PricewaterhouseCoopers said the sale was transparent.
Stead & Simpson, whose brands include Shoe Express and Peter Briggs, was put up for sale last year.
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