JERSEY’S Barratts store has been saved from closure after administrators found a buyer for over 300 of the retailer’s outlets, it is believed.
A total of 160 shops and 165 concession outlets owned by Stylo have been sold back to the existing management team. The footwear retailer’s other 220 stores will close, with the loss of 2,500 jobs.
It has been confirmed that the store in King Street and that in Guernsey are among those which have been saved. In Jersey the deal will safeguard the jobs of the store’s six full-time and six part-time workers.
Neville Kahn, Deloitte partner and joint administrator, said: ‘Given the difficult trading environment, we are pleased to have achieved a deal which will save 160 Stylo stores and 165 concession outlets across the UK and Ireland, thereby safeguarding 3,000 jobs.’