Dolcis files for administration |
|
|
Tuesday, 22 January 2008 |
|
Dolcis, the value shoe retailer, has called in administrators. According to Retail Bulletin, the downward spiral in consumer spending is
the reason the company called in Joint Administrators Brian Green, Allan Graham and Howard Smith from KPMG's Restructuring practice, who have been instructed to review the business and will seek to continue to trade from as many of the 185 stores as possible.
Brian Green, Joint Administrator and KPMG Restructuring Partner said: “Dolcis is a well recognised, long established High Street brand so we are hopeful of finding a buyer for it. “Dolcis is to some extent a victim of the tough trading conditions in which the retail sector is currently operating. Earlier this month KPMG and the British Retail Consortium reported that footwear sales fell for the third consecutive month in December, with the mass market hit hardest, as even large discounts failed to tempt sufficient customers.
|
