Pavers reportedly set to acquire Jones the Bootmaker

High street footwear chain Jones the Bootmaker is set to change hands for the second time in a year. Family run footwear business Pavers is said to be buying Jones from Endless, which acquired the business last March.

According to a report by Sky News, the deal will be structured so that Pavers buys assets out of an administration, which is being handled by EY. A formal announcement is expected to be made this week.

Pavers, which operates around 130 stores and was founded by Catherine Paver in 1971, is not believed to be acquiring the Jones the Bootmaker's headquarters. Pavers's son Stuart now runs the business.

Jones was placed into administration by previous owners Alteri last year and was acquired in a £10.5m deal by turnaround specialists Endless. Endless is understood to have decided Jones would have a more secure future as part of a larger group, given the tough trading conditions on the high street.