Jones Bootmaker sold to Endless
Footwear retailer Jones Bootmaker has seen the majority of its business sold to private equity firm Endless.
As part of the sales process, Will Wright, Steve Absolom and Blair Nimmo of KPMG were appointed as joint administrators of A Jones & Sons Limited.
Jones operates 100 stores across the UK. Following their appointment, the joint administrators completed an agreement in which Endless will acquire 72 stores, thereby securing around 840 jobs.
Some 25 underperforming stores and six concessions are not part of the sale and have closed, resulting in approximately 262 job losses.
Will Wright, partner at KPMG and joint administrator, said: “We are delighted that we have been able to rescue such an iconic UK footwear brand as Jones Bootmaker, including a high proportion of stores and preserving a large number of jobs, especially given the current economic pressures faced by retailers across the UK. This deal recognises the value of Jones as a strong and popular high street brand with a loyal customer base.”
