Footwear firm stumbles into administration

Footwear firm Steptronic has fallen into administration.

Jimmy Saunders and Michael Lennon, both of Kroll, were appointed joint administrators of Steptronic Footwear on 9 March.

The business, based in Rushden, Northamptonshire, owns the Steptronic footwear brand.

The firm has over 3,000 high street and online outlets as customers, as well as an ecommerce presence.

In its latest available accounts, made up to the end of 2020, the firm made a profit of just over £51,000.

Saunders said: “The retail sector has faced a number of well publicised challenges and coupled with shipping and supplier delays and a legacy balance sheet debt, the company was unable to meet its liabilities.

“Any prospective buyers for the business are encouraged to come forward as soon as possible.”

The joint administrators are marketing the business and assets of the company for sale.