Schuh appoints advisers from KPMG

Schuh

Footwear chain Schuh has appointed advisers from KPMG as it looks to tackle high rents on its 132-strong store estate.

The Glasgow-based group is reported to have suffered a spell of tough trading, along with much of the high street, but is not pursuing closures or a CVA, according to the Sunday Times.

In the year to February 2018, Schuh’s sales rose 9.8% to £308.5m, during which time it opened seven UK stores, although pre-tax profits at group level were down 10% at £15m.

The company was founded in 1981 and became known for selling popular footwear brands from the likes of CAT, Vans, UGG and Dr Marten’s. It moved into online selling in 2002 and in 2015 it announced a move into the German market, eventually opening three stores, however it revealed in June that these stores would be closing.

On Friday it was revealed that fellow footwear chain Office was considering closing up to half of its 100-strong UK store estate as leases expired in the coming years.

Read more on Schuh in our master database of fashion The Intelligence.