Shoe chain Dolcis goes into administration

Dolcis has outlets in Maidstone, Canterbury, Folkestone, Tunbridge Wells, Bluewater, Bexleyheath and Bromley
Dolcis has outlets in Maidstone, Canterbury, Folkestone, Tunbridge Wells, Bluewater, Bexleyheath and Bromley

SHOE retailer Dolcis has gone into administration, putting scores of jobs in the county at risk.

The well-known high street name is an early victim of a recent downturn in consumer spending already reported by large retailers such as Marks and Spencer.

Dolcis has faced tough trading conditions in a competitive sector, with latest figures showing footwear sales plunging for the last three months of 2007.

Administrators KPMG say they hope to find a buyer for the 185-outlet chain which includes Maidstone, Canterbury, Folkestone, Tunbridge Wells, Bluewater, Bexleyheath and Bromley.

Joint administrators Brian Green, Allan Graham and Howard Smith from KPMG's Restructuring practice are reviewing the business and hope to keep as many stores as possible trading.

Mr Green said: "Dolcis is a well recognised, long-established High Street brand so we are hopeful of finding a buyer for it.

"Dolcis is to some extent a victim of the tough trading conditions in which the retail sector is currently operating.

"Earlier this month, KPMG and the British Retail Consortium reported that footwear sales fell for the third consecutive month in December, with the mass market hit hardest, as even large discounts failed to tempt sufficient customers.

"While most businesses wait and see whether the recent dent to consumer confidence has a longer term impact on the wider economy, the retail sector and its suppliers operate at the sharp end; feeling the impact of tighter consumer spending with more immediacy and arguably acting as an indicator of trouble ahead for other sectors.

"There are, however, a significant number of positive factors about this business to make it an attractive acquisition and any interested parties should contact us for information."

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