Administrator appointed to retailer Shoon Limited

Ian Robert, insolvency partner at Kingston Smith & Partners LLP, the Corporate Recovery arm of top 20 accountancy firm Kingston Smith LLP, was appointed Administrator of Shoon Limited, the long established family owned retailer of footwear and clothing, on 6 February 2012. Shoon Limited operates 23 retail stores predominantly in the South of England and has a high quality online shopping operation, with the business employing approximately 280 people.

The administrator is trading the company while actively seeking a buyer for the business as a going concern and most stores are continuing to operate as usual. A commercial review of the business is currently being conducted, from which the administrator will develop a strategy; regrettably, this may necessitate some redundancies being made and possibly the closure of some under-performing outlets.

The directors and owners of Shoon expressed their sadness at today’s announcement, commenting: “In spite of our best efforts over recent years, the weak market and the fact we have been unable to economically dispose of our loss-making shops, we believe we are left with no alternative but to enter into administration.

“The current management team will be working with the administrator to seek to preserve the Shoon brand in a profitable and sustainable format. We hope to conclude this process as quickly as possible.”

Ian Robert, administrator and partner at Kingston Smith & Partners, added: “Given its sound reputation and dedicated management team, we have already received a number of expressions of interest in Shoon and we are confident that a purchaser can be found. We are actively seeking a buyer for the business and encourage interested parties to get in touch.”

Interested parties in the sale of the business should contact Jason Wright on Tel: 020 7566 4020 or via Email at: jwright@kingstonsmith.co.uk