Buyers check out Dolcis

AROUND 40 potential buyers have expressed interest in the stricken shoe chain Dolcis.

The national retailer went into administration on Monday after becoming the latest victim of the tough high street trading conditions.

Joint administrators from KPMG remain hopeful of selling the business but have had to close 89 of the 185 outlets with 482 staff made redundant.

Of the remaining 96 outlets, 35 are Dolcis shops and 61 are concessions in Bay Trading stores. A total of 644 staff are employed at these stores.

Joint administrator and KPMG restructuring partner, Brian Green, said: “I am very pleased to have been contacted by a range of parties interested in acquiring Dolcis and remain hopeful of finding a buyer for this well known High Street brand.

“I'd like to thank the management and continuing employees for their ongoing efforts in trading the business as a positive solution is sought.”

Of the stores that closed, 32 were Dolcis shops – including those in Leeds, Meadowhall and York – and 57 were concessions within Envy shops.

The Coventry-based company was bought by Alexon, the London listed retailer behind the Ann Harvey fashion stores, in 1998. In November 2006, John Kinnaird, who had worked at Sports Division with Sir Tom Hunter, bought Dolcis for £2.7m with backing from pivate equity house Epic.

However Epic pulled out in December selling its stake to Dolcis management after considering appointing administrators.