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New high street job threats hit borough

PUBLISHED: 15:48 28 January 2009 | UPDATED: 16:04 25 August 2010

MORE jobs are at risk in north Kent and south east London after two high street shoe shop chains have gone into administration.

MORE jobs are at risk in north Kent and south east London after two high street shoe shop chains have gone into administration.

Barratts Shoes, and Priceless, which are owned by Bradford based firm Stylo, have a total of 400 stores nationwide, and have become the latest victim of the economic downturn.

Barratts has stores in the Glades, Bromley, the Broadway Shopping Centre in Bexleyheath and in Bluewater.

Priceless has stores in High Street, Orpington and in the Priory Shopping Centre in Dartford.

The two firms employ a total of 5,450 people.

Deloitte, who have been appointed as administrators, said the shops had not been closed and were continuing to trade as normal.

They confirmed that Stylo were not in administration, but its shares have been suspended, and they were seeking to place the companies into a Company Voluntary Arrangement, (CVA) in which people who are owed money by a firm can vote on a repayment proposal put forward by its directors.

If that is approved by 75 per cent of creditors, the company can come out of administration and pay what it owes within an agreed period of time.

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