Experts have been predicting that some retail stores might
not reopen even after the lockdown is over and it seems that they were right.
It was recently announced that the shoe chain Aldo has now fallen into administration. Its Canadian parent firm
revealed that it has drafted in administrators at the insolvency specialists
RSM.
Following this, the company advanced that five of its 13
stores in the UK will not reopen. This move is considered to be a necessity
because of the impact of the coronavirus. However, the locations of these
outlets have not been disclosed yet and at the time of writing, the number of
staff affected by this closure is still unknown. The retailer applied for creditor protection in Canada, the US
and Switzerland, and administration in Ireland. For the UK, administrators will
have to look into options for the remaining eight shops.
Those in the United Kingdom can keep purchasing footwear
from the brand online or at Selfridges, House of Fraser and Debenhams,
when their stores reopen. David Bensadoun, chief executive officer of the Aldo
Group said that closing the outlets has been a difficult decision
and he thanked “associates, customers and vendors in the UK for being a part of
[their] story since 2002”.
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Aldo stores in the UK will not reopen
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