Jones the Bootmaker put up for sale

One of the oldest names on the UK high street, Jones the Bootmaker, has been put up for sale.

The 160-year-old footwear firm is owned by turnaround specialist Alteri Investments which has engaged KMPG to explore all options for the firm, including a sale or administration.

Alteri, which is backed by US private equity group Apollo, acquired Jones the Bootmaker and value footwear chain Brantano for £12m from previous owner Macintosh Retail Group.

Brantano was put through a pre-pack administration process last year which allowed Alteri to salvage 1,400 jobs and ditch about 60 unprofitable stores. Jones was unaffected at the time.

News that Jones is now up for sale has led to fears that it may result in job losses and the potential closure of some of its 100-plus stores.

The business was founded in 1857 by Alfred Jones and his wife Emma who opened their first store in the Bayswater area of London. It was one of the first stores to feature electric lighting and later went on to pioneer ready-to-wear shoes available in different widths.