Hotter which completed a CVA in July which saw it close 65 stores is set to be sold off by owner Electra Private Equity in 2021. The investment firm has reportedly engaged Stifel, a US investment bank, to orchestrate an auction of the UK business once trading is back to normal. Hotter now has 15 retail stores.
Electra invested £2 million of new funding into Hotter in the summer with the money being used to improve the footwear manufacturing firm’s product development activity as well as other ‘strategic initiatives’.
Ian Watson, Hotter Shoes CEO said: “Now we can focus on accelerating the implementation of our strategy to develop the respected and valuable Hotter brand with a greater emphasis on its online offering, which should establish a successful long-term future for the business.”
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