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680 Barratts jobs axed under deal
Monday January 16th 2012
A total of 680 jobs will be lost under an agreement to save the majority of the Barratts shoe chain, according to administrators.
Deloitte said that 1,184 posts will be protected as 89 stores are kept open in a deal with the existing management team.
Some 39 shops and 14 concessions are to be closed after the shoe chain entered administration in December due to difficult trading conditions. About 1,600 jobs were axed after no buyer was found for its concessions business, although this did not affect stand-alone stores.
Chief executive Michael Ziff said: "I am delighted that we have been able to conclude this deal and save as many jobs as we have. The last few months have been very challenging but we have a great team in place."
Barratts was previously put into administration three years ago, with Mr Ziff, chairman of Barratts Priceless parent company Stylo, buying 160 shops from Deloitte. The administrator shut down 220 stores at the time but Mr Ziff's move helped safeguard about 3,000 jobs.
Copyright Press Association 2012
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