Kingston Smith & Partners secures sale of Shoon Limited
Deal saves over 150 jobs at the long established footwear chain
Ian Robert, Licensed Insolvency Partner at Kingston Smith & Partners LLP, the Corporate Recovery arm of accountancy firmKingston Smith LLP, has secured the sale of Shoon Limited, saving the jobs of 153 staff, following his appointment as Administrator on 6 February 2012.
The footwear retailer will continue to operate 11 stores in Bath, Brighton, Cheltenham, Epsom, Guildford, Kingston-upon-Thames, Reading, Salisbury, St Albans, Tunbridge Wells and Winchester. It also has a significant and well-established online business, which is operated from the head office and distribution facility in Wells, Somerset.
Commenting on the deal, Ian Robert said: “After marketing the business we received a number of offers, the strongest of which was from the Company’s existing management supported by restructuring specialist GA Europe, whose industry knowledge I hope will be a real asset in leading Shoon towards a bright future.”
He continued: “I am pleased that this deal has helped preserve over 150 jobs in both the stores and head office in Wells, whilst ensuring the survival of a long established retail brand.”