2,000 jobs secured at footwear retailer
12/09/2008(11:27)
Jobs at footwear chain Faith Shoes have been saved after the chain was bought by a leading retail entrepreneur.
The Faith brand has been bought by the former owner of Dolcis Shoes, John Kinnaird, in a partnership with investment fund Agilo.
Over 2,000 jobs at the retailer have been safeguarded following the takeover, with the partnership acquiring Faith for an undisclosed sum.
Faith shoes operates over 85 stores and 120 concessions across the UK, which will be combined with Mr Kinnaird's other Envy and Chilli Red fashion brands.
Administrators FTI Consulting said: "This transaction will enable the business to continue to trade as well as securing the future of the brand which is excellent news for its employees, customers and suppliers."
Liz Titcomb and Liz Bennett, staff trainer and retail director respectively of cosmetics firm Lush, have said that the retail sector would benefit from employees being taught skills such as leadership while in school.
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