Beaconsfield Footwear Limited - Administration

Beaconsfield Footwear Limited (trading as Hotter Shoes), a Skelmersdale-based footwear retailer and the main trading subsidiary of AIM-listed Unbound Group PLC, entered administration on 18 July. The company had been adversely affected by difficult trading conditions in the retail environment, and despite taking steps to address costs across the business, creditor pressure continued to increase. Following an extensive exploration of options, it became clear that it would not be possible to conclude a transaction on a solvent basis and as such, the directors took steps to seek the appointment of administrators. Will Wright and Rick Harrison from Interpath Advisory were appointed joint administrators and have concluded a sale of the business and certain assets to an entity controlled by WoolOvers Group Limited for total cash consideration of £6.7 million. As part of the sale, all 421 employees and 27 stores and concessions have transferred across to the purchaser.