Shoe Studio, formerly owned by the Mosaic Fashions Group, which went in to administration last week has been formally bought by Daniel Rubin led, Dune, which is also another shoe chain. This move would safeguard jobs at more than 300 concession stores, but jobs at 11 company owned stores would stand redundant.
Dune, which was founded in 1993, is owned by Daniel Rubin, Managing Director of the retail store chain. It currently runs 43 stores in the UK and 35 concession outlets and has sojourned in to Russia and the Middle East in recent years.
Principles, the other store brand owned by Mosaic Fashion Group has still not found any takers yet and would continue to run under the present administrators, Deloitte, though negotiations are in progress with other parties, said, Deloitte.
The takeover has saved more than 1,660 jobs at Shoe Studio's 300 plus stores, though 90 employees at the 11 standalone stores will have to look for new jobs.
Fibre2fashion News Desk - India
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