Stylo
| Type | Public |
|---|---|
| Industry | Retail |
| Founded | 1935 |
| Headquarters | Bradford, West Yorkshire |
| Key people | Michael Ziff, Chairman |
| Products | Shoes |
| Employees | ~6,500+ |
| Website | www.barratts.co.uk |
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Stylo plc is a UK based PLC engaged in footwear retailing based in Bradford. It operates under more than 1 brand including Barratts, Priceless and Shutopia and supplies shoes to Dorothy Perkins. It formerly owned the Shelleys brand which was sold.
Stylo was a family run business which originated in 1935 with the consolidation of three separate companies the company was floated on the Stock Market under the trade name ‘Stylo Boot Company (Northern) Limited’. The company grew to have 150 outlets by 1964 when it put in a bid for W Barratt and Company. Barratts is now the principal brand for Stylo and the company now has more than 400 retail outlets.
On 13 February 2008, Stylo purchased 24 stores from collapsed shoe retailer Dolcis as well as the Dolcis brand name. The shops were rebranded as Barratts.[1]
On 26 January 2009, Stylo's shares were suspended. This followed Stylo making a loss of £12.5m in 2008.[2] In addition its two chains Barratts and PriceLess have gone into administration.[3]
On 13 February 2009, Stylo itself went into administration having failed to reach agreement with its creditors[4] and on 19 February 2009 Deloitte (Stylo's administrators) announced that 220 Barratt and PriceLess stores would be closing with the loss of approximately 2,500 jobs. The remaining 160 stores and 165 concessions would remain open having been sold to the management of Stylo which will continue to be led by Michael Ziff.[5]
Stylo currently has approximately 6,500 staff.
On 8 December 2011, Barratts once again entered administration after a retail downturn in the wake of the 2008 recession and ongoing financial turmoil including the Eurozone uncertainty.
22 December 2011, Barratts administrators, Deloitte, announce the closure of 18 stores. 60 head office staff had also been made redundant.
30 December 2011, Barratts administrators accounce over 1600 redundancies as parts of the company are wound down as they determined that they would be unable to find a buyer for the concessions portion of the business.
15 January 2012, Barratts announce that they have sold the majority of the remainder of the business to the previous management team to once again be led by Michael Ziff. The management team purchased 89 stores which included the employment of 1100 staff. A further 39 stores and 11 concessions would close with the loss of a further 680 jobs.
