Retail entrepreneur John Kinnaird will next week approach landlords to renegotiate leases on the top-performing Dolcis stores in an effort to salvage something from the chain that went into administration this week.

Kinnaird wants to trade from about 45 key stores on turnover-based rents. If landlords agree to Kinnaird’s demands, he will then seek to renegotiate terms with key suppliers.

“Part of the reason why Dolcis was forced to go into administration was because the rents are too high and the stores just can’t make any money,” said Kinnaird. “If landlords are now sitting with an empty shop, they may be more inclined to look at a new deal.”

Kinnaird said he would be willing to invest his own money to buy Dolcis back, but he said this would be “substantially less” than the£3 million that previous backer Epic Private Equity had injected into the business. “If our overheads are reduced, we don’t need as much money to restart the business and get back on track,” said Kinnaird.

Dolcis went into administration on Monday and KPMG was appointed to review the business.

Of Dolcis’s 185 stores and concessions, 96 remain open and trading and 89 have closed. Of its 67 standalone stores, 35 are trading and 32 closed. Its 61 concessions in Bay Trading remain open and its 57 concessions in Envy have shut.

Dolcis’s fall into administration is indicative of the challenging specialist footwear market. Separately, a buyer for the remaining parts of Stead & Simpson has yet to be found, although the retailer remains bullish about the sale being wrapped up by February.

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