Press Releases

Glaisyers advises on ‘Mr Shoes’ buyout

Manchester-based law firm, Glaisyers Solicitors LLP, has advised Glayone Limited, a Newco set-up to acquire a substantial part of the business and assets of Mr Shoes Limited, for an undisclosed sum.

Norfolk-based, Mr Shoes had 23 stores in the UK, predominantly in the West Midlands and the South East of the UK and a transactional website. The business employed 130 people and had an annual turnover of £7m. It was placed into administration in late June.

The company has been bought by Glayone Ltd, which was formed by the previous directors of Mr Shoes Ltd. Over 50 jobs and nine stores have been saved by the acquisition as well as its head office and warehouse functions. The company will continue to trade as Mr Shoes, following the acquisition.

Speaking on the deal, John McMuldroch, corporate partner, who led the team at Glaisyers, said: “We completed the deal within three days of the client’s offer being accepted by the administrators. We are pleased that Mr Shoes will now continue to trade.”

Adam Bradley, partner at Taylor Vinters in Cambridge, acted for Larking Gowen, the appointed administrators.