Footwear retail chain Treds has been bought out of administration by New Gray Limited in a deal orchestrated by administrators from PwC.
Ross Connock, PwC director and joint administrator commented: “This deal safeguards the jobs of all 159 members of staff and the continued trading of all 21 stores. In an extremely challenging environment, the sale provides a much-needed boost for the retail sector and stability for employees.”
Treds is reported to have struggled in recent months following a fall in profits.
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