Foot clinic and comfort footwear retailer Shuropody has filed a notice of intention to appoint administrators, Drapers can reveal.
Drapers understands the troubled business filed the notice yesterday and Carter Backer Winter will be appointed as administrator in the coming week.
In June Shuropody entered into a company voluntary arrangement (CVA) for the second time in just over a year. It filed notice of a CVA in April 2017.
One footwear source said: “It is a sorry state of affairs. No one likes to see a business going under, but it has been a train crash for months. I don’t know how businesses are allowed to go through multiple insolvency processes one after another. It is crazy.”
A source close to the situation said: “They are looking for a buyer, but I don’t think anyone in the trade will take it on given the challenges in retail and the uncertainty around Brexit. It isn’t a big surprise, it was more a question of when it was going to happen rather than if.”
Accounts filed for the year to 31 January 2017 show that Shuropody registered £16.3m in sales, down from £16.8m in 2015/16, leading to an operational loss of £1.03m, down from £1.7m in 2016.
Drapers has ed Shuropody for comment.