Shares in shoe retailer Stylo have been suspended as it explores options for the future of the business.

Stylo said this morning it had requested that trading in its shares be suspended “pending clarification of these options".

Last week Stylo said that its margins had been affected by the downturn and that its board was exploring strategic options for the business.

It added: “A further announcement will be made in due course.”

The retailer, which owns Barratts and Priceless, is the latest in a long line of speciality shoe retailers hit by the credit crunch.

Many of Stylo's competitors have hit the buffers in recent months including Stead & Simpson and Faith. The footwear specialists have been hit by the downturn, but also by fashion chains such as New Look and Primark, which have started selling shoes.

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