ATTENTION, ATTENTION LADIES Faith Shoes has gone into administration.... I kid you not head down to the stores now to get a % of all shoe prices. All Assest need to be sold!!
The Official stuff:
Faith Shoe Group and its parent company FEC Holdings have joined the likes of fellow retailers Adams and Ethel Austin in administration.
It was announced yesterday (April 22nd) that the women’s footwear firm, which has been up for sale for a number of weeks, will be looked after by Heath Sinclair, Rod Weston and Mike Wellard from international accountancy firm Mazars.
Mr Sinclair revealed that the Mazars team is currently liaising with interested parties in an attempt to facilitate the sale of the business in order to save hundreds of retail jobs.
“We will be working closely with the businesses’ stakeholders in an effort to preserve a well-known retail brand,” he explained.
“We are in the process of communicating with all staff, concession partners and suppliers, and will seek to keep them updated as the process develops.”
Samuel Faith founded the high street retailer in 1964, but it has been under the ownership of his son, Jonathan, since 1997.
Some 362 full-time staff and 1,382 part-time staff are employed in the company’s 78 standalone stores and 120 concessions, which are located in larger retailers such as Debenhams and Topshop.
Simone Karma Rae
