Shoe Zone, which acquired Stead and Simpson in January 2008 has announced that it will be closing 90 of their 227 high street stores.
The locations of the closures have not yet been announced, but it is understood that around 500 staff will lose their jobs. Naomi Shefford, marketing and property director for Shoe Zone spoke of the reasons why certain stores will be closing.
She said: “In locations where we have two stores on the same high street, or where stores were not profitable for us, we had to make a business decision to ensure the company continues to be successful.”
The shoe business has been around ever since 1834 when Edmund Stead and Edward Simpson started the business in Leeds. The business grew from strength the strength, but was halted during the First World War as 470 employees left to serve their country. The Second World War again put a strain on the shoe business as this time 1,000 members of staff were called to serve in the war.
Since the war, the business grew to 284 stores and employed almost 3,000 people. The company was sold numerous times, finally to Bank of Scotland Corporate in 2005 for £48 million.
Shoe Zone announced that they will try and accommodate staff in nearby stores where possible.
“Where we have a Shoe Zone or another Stead & Simpson store near to any closures, we are doing everything we can to ensure our staff keep their jobs within the business,” Shefford added.
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