Shoe shop in administration

At least 600 staff have lost their jobs at Dolcis after the shoe shop confirms it has been placed into administration following weeks of speculation.

Administrators KPMG closed the 185 outlets after discussions with an unnamed rescue backer failed to materialise. KPMG said that 35 of Dolcis’ 67 stand-alone shops would continue to trade.

Joint administrator Brian Green said Dolcis is a well recognised, long established High Street brand so we are hopeful of finding a buyer for it. The shoe shop is, to some extent, a victim of the recent slowdown in spending and the credit squeeze.

KPMG and the British Retail Consortium reported that footwear sales fell for the third month in a row in December, with the mass market affected the most, large discounts even failed to attract customers.

The chain is owned by Scottish entrepreneur John Kinnaird, who is believed to have been close to acquiring rival shoe shops business Stead & Simpson late last year but the deal collapsed after a backer pulled out.

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