1,100 Jobs saved as Barratts deal made
16 January 2012
The high-street shoe retailer’s management team have struck a deal with administrators to buy 89 of its remaining stores, saving over a thousand jobs in the process.
Last month, Barratts went into administration putting jobs at risk. Since then 1,600 jobs have been lost but the new deal with administrators Deloitte will safeguard 1,184 of the remaining jobs, while there will still be redundancies due to the closure of over 50 high street outlets.
Michael Ziff, Chief Executive, Barratts: “I am delighted that we have been able to conclude this deal and save as many jobs as we have. The last few months have been very challenging but we have a great team in place."
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