Modella Capital, the investment firm behind a recent spree of high street acquisitions, is now in advanced talks to purchase the footwear retailer Wynsors World of Shoes.
Details of the Potential Acquisition
Sky News has learned that a deal for the privately owned shoe chain could be finalised before the end of the year. The negotiations, which are currently at a late stage, position Modella as the most likely buyer for the business.
Wynsors, which has been exploring a sale for approximately two months, employs roughly 440 people and operates from a network of around 50 standalone shops, primarily located across the north of England. The chain also trades from about 40 concession sites.
Market Position and Challenges
The retailer has a strong focus on the children's school shoes segment. However, like many in the sector, its recent performance is understood to have been adversely affected by labour cost pressures that followed last year's Budget.
To manage the sale process, Wynsors hired the accountancy firm RSM to seek interest from prospective bidders.
Modella's Expanding Retail Empire
If the acquisition is completed, Wynsors will join a growing stable of retail brands under Modella's control. This portfolio already includes TG Jones (the new name for WH Smith's high street chain), Hobbycraft, and The Original Factory Shop.
Modella has established itself as one of Britain's most active acquirers of high street chains this year. The firm was also among the bidders for Poundland, which was ultimately sold to another specialist retail investor, Gordon Brothers, during the summer.
When approached for comment, a spokesman for Modella declined to speak on the matter. RSM has been contacted, and Wynsors could not be reached for comment.
