Shoon plunges into administration

Shoon, which has 23 stores across the South of England with 280 employees, has appointed Kingston Smith as administrator.

There have been no store closures and the business continues to operate as usual.

Kingston Smith’s Ian Robert said the search has begun for potential buyers.

“Given its sound reputation and dedicated management team, we have already received a number of expressions of interest in Shoon and we are confident that a purchaser can be found. We are actively seeking a buyer for the business and encourage interested parties to get in touch,” he said.

Shoon directors and owners said in a statement: “In spite of our best efforts over recent years, the weak market and the fact we have been unable to economically dispose of our loss-making shops, we believe we are left with no alternative but to enter into administration.”

They added that the management team would work with the administrator to preserve the brand in a profitable and sustainable way.

Shoe specialist Barratts Priceless Group went into administration for the second time in two years in December with owner Michael Ziff later striking a deal with administrators to buy the bulk of its stores safeguarding 1,184 jobs.