Steptronic Footwear Limited has appointed Jimmy Saunders and Michael Lennon of Kroll as joint administrators.
The business, based in Rushden, Northamptonshire, owns the ‘Steptronic’ footwear brand which operates internationally in both the wholesale and retail sectors.
In addition to having over 3,000 high street and online outlets as customers, the company also has its own fully integrated website selling a wide range of Steptronic branded shoes direct to the public.
Saunders said: “The retail sector has faced a number of well publicised challenges and coupled with shipping and supplier delays and a legacy balance sheet debt, the Company was unable to meet its liabilities.
“Any prospective buyers for the business are encouraged to come forward as soon as possible.”
The joint administrators are marketing the business and assets of the company for sale.