Unbound Group news and archive

WoolOvers snaps up footwear brand Hotter from Unbound Group

Hotter Shoes, the footwear brand once operated by the struggling Unbound Group, has been swiftly rescued by WoolOvers Group in a pre-pack deal for 6.7 million pounds. The sale comes after Unbound Group appointed administrators on July 17, after halting a wider formal sales process for the company and instead opting to sell its subsidiary,...

Hotter’s Unbound Group to appoint administrators, suspend AIM listing

Following the termination of its formal sale process, Unbound Group has announced the intention to appoint administrators to its main operating subsidiary, Beaconsfield Footwear Limited (OpCo). In a regulatory filing, the company, which owns footwear brand Hotter, said that it was to appoint Will Wright and Rick Harrison of Interpath Advisory...

Business

Hotter Shoes owner Unbound Group reportedly seeking funding to avoid collapse

Unbound Group, the owner of British footwear retailer Hotter Shoes, is reportedly in need of fresh funding if it is to avoid collapse. The London-listed group faces calling in administrators if it fails to raise up to 2 million pounds from a share sale in the coming days, Sky News reports, citing City sources. A spokesperson told Sky: “All...

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Unbound Group terminates sales process, profitability remains resilient

Unbound Group, the owner of Hotter, has announced that it will be ending its formal sale process after its board stated that no potential offers had full support. The company had initially launched the process alongside a strategic review on May 19 in a bid to explore options that could maximise value for shareholders and other stakeholders....

Business

Unbound Group reportedly considering restructuring amid challenging trading

Hotter Shoes owner Unbound Group is reportedly mulling a restructuring after entering into a formal sale process earlier this year. The British group has asked advisers at Interpath to begin preparations for a restructuring plan which could allow it to shed some of its liabilities, Sky News reports. Such a restructuring would require court...

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Unbound Group enters into formal sale process following strategic review

Unbound Group, the owner of Hotter Shoes, has announced that it has entered into a sales process after it carried out a strategic review in light of declining revenues. According to Unbound, the trading position in the second half of 2022 had left it with cash constraints, forcing its board to seek additional funding to help complete...

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Unbound Group pauses e-commerce activity after investment offer falls through

Unbound Group is believed to be putting a halt on its multi-brand platform following a lacklustre trading period and a withdrawn investment deal. The group initially launched the site last July, offering up 14 footwear and clothing brands, including Birkenstock and Skechers. According to Drapers, Unbound is set to pause all activity on the...

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Hotter Shoes owner Unbound Group mulls sale

Unbound Group, the owner of British footwear retailer Hotter Shoes, is considering accepting a takeover bid by knitwear specialist WoolOvers Group Limited. In a statement Tuesday, Unbound said it is “in discussions with WoolOvers Group in relation to a possible cash offer for the entire issued and to be issued share capital of Unbound”. It said...

People

Unbound Group appoints former Next CFO to board

Unbound Group, the parent company of British footwear chain Hotter Shoes, has appointed New Look’s former finance chief Alastair Miller to its board of directors. He will be appointed as chair of the group’s audit and risk committee and a member of the remuneration committee and the nomination committee, effective December 31. The appointment...

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Unbound Group first-half revenue up 10 percent

Unbound Group, the owner of British footwear retailer Hotter Shoes, has reported a 10 percent increase in revenue in the first half of the year. In its interim results for the six months to July 31, the group posted revenue of 27.6 million pounds, up from 25 million pounds a year earlier. It said the growth proved the “benefits of the...

People

Unbound Group finance chief steps down

Hotter Shoes owner Unbound Group has announced its chief financial officer Dan Lampard is leaving the business on October 1 to take up the same role at another company. Lampard joined Hotters Shoes as finance chief in August 2021 before taking on the same role on a group level in February of this year. Gavin Manson, who has been a director of...

Business

Hotter Shoes owner Unbound Group raises fresh funding

Unbound Group has raised fresh capital to accelerate its growth strategy. The group said Friday it has raised 3.3 million pounds in the placing and subscription of 20.8 million new shares. The group has also launched an open offer of up to 6.7 million shares which would raise up to a further 1 million pounds. Unbound Group, formerly called...