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800 Jobs As Barratts Collapses
Shoe retail group Barratts Priceless,[link widoczny dla zalogowanych], which employs around 3,800 people,[link widoczny dla zalogowanych], has gone into administration.
The failure from the Bradford-based chain Barratts Priceless,[link widoczny dla zalogowanych], which has 191 stores in the UK,[link widoczny dla zalogowanych], continues to be partly attributed to the mild weather of latest weeks.
Deloitte restructuring partner Daniel Butters said: "Barratts and Priceless Shoes have faced a downturn in trading due to the difficult economic conditions,[link widoczny dla zalogowanych].
"This continues to be exacerbated by the unseasonably mild weather in recent weeks which resulted in fewer sales across new winter lines."
It's the second time the business has been put into administration. Michael Ziff,[link widoczny dla zalogowanych], chairman of Barratts Priceless' parent company, Stylo, bought 160 shops from Deloitte following the chains were put in administration in 2009.
At that time,[link widoczny dla zalogowanych], Deloitte closed 220 stores but Mr Ziff was able to safeguard around 3,000 jobs.
Meanwhile, Sky News city editor Mark Kleinman has learnt that discount fashion retail group Peacocks is considering the closure as high as 200 shops in a move that will herald further bleak news for that British traditional.
The closures,[link widoczny dla zalogowanych], which would represent around a fifth of their stores,[link widoczny dla zalogowanych], are being discussed included in an extensive restructuring plan aimed at safeguarding the company's future,[link widoczny dla zalogowanych], based on people near to Peacocks.
Nick Bubb,[link widoczny dla zalogowanych], a retail analyst at Arden Partners, said: "The secondary traditional is struggling whatever you're selling. They were competing with the supermarkets and clothing retailers such as Change and River Island.
"Footwear can also be increasingly bought with clothing now and it is part of a continuing structural trend.
"It's right down to an overwhelming combination of competition and the economy,[link widoczny dla zalogowanych]."
Barratts joins a list of retail failures this season which includes TJ Hughes,[link widoczny dla zalogowanych], Jane Norman,[link widoczny dla zalogowanych], Alexon, Habitat UK and concentrate DIY.
And Blacks Leisure, which owns the Millets chain,[link widoczny dla zalogowanych], put itself on the market on Wednesday in a last-ditch effort in order to save the loss-making business from collapse.
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