Insolvent shoe retailer Barratts Shoes may have found a Christmas saviour, as it has received a last ditch offer for the business.
As reported by The Telegraph, York-based Pavers, also a shoe retailer, has stepped in with a £5m offer to take control of Barratts.
The company entered formal administration after a previously planned £5m investment package fell through.
Philip Duffy and David Whitehouse of Duff & Phelps were appointed joint administrators to Barratts Trading Limited on 8th November.
The retailer previously entered administration in December 2011, trading as Barratts Priceless Ltd, resulting in the loss of approximately 2,500 jobs and over 100 store closures. It first entered insolvency in 2009.
Prior to entering administration, Barratts operated from 75 stores and 23 concessions across the UK and Ireland, employing 1,035 people in total, however closing down sales have already started in the majority of Barratt stores.
Established in 1971, Pavers is based in York and opened its 100th UK store in the London Designer Outlet earlier in December 2013.
Pavers declined to comment.