Endless LLP acquires Jones Bootmaker | KPMG | UK

Endless LLP acquires Jones Bootmaker

Endless LLP acquires Jones Bootmaker

Jones Bootmaker, the footwear retailer with over 100 branches across the UK, has been sold to Endless LLP, a private equity firm.

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Jones Bootmaker, the footwear retailer with over 100 branches across the UK, has been sold to Endless LLP, a private equity firm.

As part of the sales process, Will Wright, Steve Absolom and Blair Nimmo of KPMG LLP were appointed joint administrators of A Jones & Sons Limited on 24 March 2017.

Following their appointment, the joint administrators completed an agreement to sell the majority of the business and assets to Endless. The deal sees Endless acquire 72 stores, securing around 840 jobs in the UK.

There are 25 underperforming stores and 6 concessions which are not part of the sale and will close immediately. These closures unfortunately result in approximately 262 job losses.  

Will Wright, partner at KPMG and joint administrator, commented: “We are delighted that we have been able to rescue such an iconic UK footwear brand as Jones Bootmaker, including a high proportion of stores and preserving a large number of jobs, especially given the current economic pressures faced by retailers across the UK. This deal recognises the value of Jones as a strong and popular high street brand with a loyal customer base.”

Steve Absolom, joint administrator at KPMG, added: “Whilst it is always pleasing to preserve a significant number of jobs, sadly a number of redundancies are to be made at the closed stores.  Over the coming days, our priority is to ensure all employees who have been affected by redundancy receive the information and guidance they need in order to claim monies owed from the Redundancy Payments Office.”

 

ENDS

 

Notes to Editors:

The joint administrators will be writing to all creditors over the coming days. Urgent enquiries only should be directed to jonesbootmaker@kpmg.co.uk

 

For media queries only, please contact: 

Katy Broomhead, Senior PR Manager

T: 0161 246 4623

M: 07824 537963

E: katy.broomhead@kpmg.co.uk

KPMG Press office

T:  +44 (0) 20 7694 8773

 

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