Another retailer saved by rival
15/02/2008
As a sure sign of more consolidation yet to come in the British retail market, another bankrupt footwear firm has been bought by one of its rivals.
Following on from Shoe Zone’s acquisition of Stead and Simpson last month (see www.leatherbiz.com January 30, 2008), Dolcis has now been bought by rival retailer Stylo, which operates the Barratts and PriceLess chains. No financial terms of the deal have been disclosed.
Although over 600 jobs were lost at the mid-price retailer when it went into administration in January, and more are set to follow, some 300 positions will be saved under the new deal through Stylo’s acquisition of ten Dolcis outlets which will be rebranded as Barratts stores.
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