Jones in Newbury to stay open
There was relief for staff at Jones Bootmaker at the Parkway in Newbury after it was announced the store is to remain open.
Jones Bootmaker was on the verge of entering administration but a last minute deal saw the firm sold to Endless LLP, a private equity firm.
The news comes at the time that its fellow stores in Basingstoke, Oxford and Southampton are all closing.
There are 25 underperforming stores and six concessions which are not part of the sale and will close immediately, resulting in 262 job losses.
Will Wright, partner at KPMG and joint administrator, commented: “We are delighted that we have been able to rescue such an iconic UK footwear brand as Jones Bootmaker, including a high proportion of stores and preserving a large number of jobs, especially given the current economic pressures faced by retailers across the UK. This deal recognises the value of Jones as a strong and popular high street brand with a loyal customer base.”