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
Find the perfect shoes with our sister site OSOYOU.com
Want to watch Fashion TV? Click here for the latest videos
Came straight to this page? Visit www.shoewawa.com for loads more stories!
digg this |
del.icio.us this
| 
Stumble It!
Post a comment
Required fields marked by *