Provided finance and support to facilitate a new venture into concession management that has allowed the company to stabilise and improve.
By the numbers
We supported Barratts through a difficult time, providing capital when the business fell into administration and helping them, through the acquisition of assets, to develop a concession management arm. Barratts is a national UK footwear retailer well-known for combining fashion with value for money. When the company met with financial difficulty in 2011, our committed finance facility allowed the Barratts Management team to get the company back on a positive footing. Since this transaction, we have provided additional working capital and operational support that has led to Barratts acquiring assets from the administrator of Famous Footwear. As a result, Barratts now provides concession management at 16 of Beales’ department stores and continues to steadily improve within the competitive retail sector. Our expertise in the asset value and industry sector, together with our flexible finance provision, has enabled Barratts to stabilise and develop new business.