Faith goes up for sale
And now for a bit of shoe business news... Faith has been put up for sale after Barclays, the company's bank, was forced to employ financial specialists to run a fire-sale of the business.
The drastic measure was implemented as Barclays is owed £25m by Faith, and declined Bridgepoint's (Faith's private equity owner) offer of a debt-for-equity swap.
It is believed that the struggling UK footwear chain has been hit badly affected by a poor economic climate. Sadly, as many as 100,000 jobs could be on the line by the end of next year.
Related: Light grey Stogo ankle boots from Faith | 'Aikiko' satin ballet flats from Faith
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