UK shoe store goes into administration

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UK shoe store goes into administration

John Williams - Tuesday 22.01.08, 08:08am

The first major victim of the UK’s post Christmas spending slowdown, on the high street, is the former shoe giant Dolcis. More than 1200 jobs are at risk after the company went into administration today.

Dolcis was purchased last year by Scottish retail entrepreneur John Kinnaird, in a £2.7 million deal, backed by Epic Structured Finance, the private equity group. The company filed a notice four weeks ago saying that it may have to appoint administrators.

Dolcis was founded in 1863 and the joint administrators are hopeful that a buyer can be found. They say that there are a “number of positive factors about this business to make it an attractive acquisition.”