Deal saves 1,200 jobs at troubled shoe chain Barratts

A team led by chief executive Michael Ziff agreed a deal to buy 89 Barratts and Priceless stores and their internet retailing operations from administrators Deloitte late on Friday. The deal saves 1,184 jobs across the UK, Ireland and at Barratts’ Bradford head office.

However, 39 stores and 14 concessions will close with 680 redundancies. Another 1,600 jobs were also lost last month after attempts to find a buyer for Barratts’ concessions business failed.

“I am delighted that we have been able to conclude this deal and save as many jobs as we have,” said Michael Ziff, chief executive of Barratts Trading Ltd.

“The last few months have been very challenging but we have a great team in place. I would also like to thank our departing colleagues for the tremendous hard work and commitment they have demonstrated”.

The deal will see shops retained in Leeds, York, Harrogate and Greengates, near Bradford.

However, 23 jobs will be lost at the chain’s head office, plus another 23 roles at stores in Bradford, Doncaster and Keighley.

Barratts collapsed into administration last month, blaming a downturn in consumer spending and unseasonably mild weather which shrunk sales of its winter lines.

It was the second time the business has fallen into administration in recent years. Mr Ziff, chairman of Barratts Priceless parent company Stylo, saved around 3,000 jobs when he bought 160 shops from Deloitte after the chains were put into administration in 2009.

Barratts joins a list of retail casualties over the past year which includes Blacks Leisure, La Senza, TJ Hughes, Jane Norman, Alexon, Habitat UK and Focus DIY.