More on KentOnline
It was good news for staff at a shoe shop in Gillingham today.
Employees at Barratts in Hempstead Valley Shopping Centre have discovered their store is among 160 which have been saved from collapse.
Stylo, which owns Barratts and Priceless Shoes, went into administration in January.
Last week it was announced 160 stores and 165 concession outlets had been sold to the old management, saving 3,000 jobs. But a spokesman for the company was not able to confirm which branches were safe, until today, Monday.
Neville Kahn, from administrator Deloitte said: “Given the difficult trading environment, we are pleased to have achieved a deal which will save 160 Stylo stores and 165 concession outlets across the UK and Ireland, thereby safeguarding 3,000 jobs. Due to difficult short term financial difficulties and the long term sector outlook, however, the store portfolio was deemed to be too large, and unable to generate sufficient profits to cover its cost base. As a result, the remaining 220 stores will be closed imminently, with the regrettable loss of 2,500 jobs.”
There are currently 15 staff working at the Hempstead Valley branch of Barratts. The firm also runs a concession in fashion store Dorothy Perkins in the shopping centre, which has also been bought by the old management team.