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Hundreds of jobs safeguarded as Harvey Ingram helps rival step into Stead and Simpson's shoes

Hundreds of jobs at struggling Leicester shoe firm Stead and Simpson have been safeguarded after Harvey Ingram helped broker a rescue deal with rival Shoe Zone.

It means 200 Stead and Simpson stores, which also trades under the brands of Shoe Express, Lilley & Skinner and Peter Briggs, will now be in the hands of Shoe Zone.

The rescue deal was put together and completed within 10 days by a Harvey Ingram team, made up of retail, pensions, employment and corporate specialists led by partner Roy Botterill and associate Lee Hennell. The other team members included Chris Nuttall, Adam Gilbert, John Simon and Kimbra Welch.

Shoe Zone chief executive Anthony Smith said: "This is a superb acquisition for us and I knew we could rely on Harvey Ingram to get it tied up very quickly. We are looking forward to helping ensure some of Britain’s longest running and most well known footwear brands will continue to trade."

It comes hot on the heels of another big deal brokered by Harvey Ingram at the end of last year, which enabled the firm to acquire the 260-outlet Shoefayre. It had been in the hands of the Co-operative Group.

Roy Botterill, of Harvey Ingram, said: "Our team of specialists is extremely well geared up for this sort of acquisition and we were delighted to be in a position to help Shoe Zone expand even further."
Thanks to its acquisition of Stead and Simpson, Shoe Zone will now have more than 800 stores and employ more than 6,500 staff.