Stead and Simpson cuts 500 jobs
14 December 2012
High street shoe retailer Stead and Simpson has announced that it will close 90 stores across the UK, resulting in approx 500 job losses.
The footwear company has 227 stores in the UK, and employs 1,400 people. More than 40,000 jobs have already been lost on the high street in 2012 following the closure of JJB Sports and Comet.
The company went into administration in 2008 and was bought by Shoe Zone.
Naomi Shefford, Marketing and Property Director, at Shoe Zone said: "We have undertaken a thorough review of the Stead & Simpson business over the last few months which has culminated in the winding up of Tyler Ltd, the company that Stead & Simpson stores trade under.
"We want to emphasise that this review has not affected Shoe Zone in any way at all, and has in fact further strengthened this business.
"The review has led to 90 Stead & Simpson store closures. The decision was not taken lightly to close these stores; however, in locations where we have two stores on the same high street, or where stores were not profitable for us, we had to make a business decision to ensure the company continues to be successful".
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