Footwear brand Steptronic appoints administrators
Northamptonshire-based footwear brand Steptronic has appointed Jimmy Saunders and Michael Lennon, both of Kroll, as joint administrators. The administrators are marketing the business and its assets for sale.
Steptronic footwear is sold in more than 3,000 high street and online outlets across 30 countries, and also operates its website. The business was founded in 2009 by footwear industry veteran David Corben, who is also its Managing Director.
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.”