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Nigel TAYLOR Published
July 17, 2025
Unbound Group has run out of time in its bid to find £2 million in emergency financing and is to call in administrators. It has appointed Interpath Advisory, it announced to the stock market Monday, while suspending its London-listed shares.
The owner of the Hotter Shoes retail brand said its search for the formal sale of the business ended late last month in the absence of potential offers its shareholders would support. This included discussions to acquire the trade and assets of the group's main operating subsidiary, Beaconsfield Footwear (OpCo).
“Having regard to the group's obligations to its creditors and wider stakeholders, it is now clear to the board that it is no longer appropriate to progress these parallel discussions further,” it said.
"Regrettably, the board has therefore concluded that it is required to take the necessary steps to preserve value for the group's creditors and avoid OpCo trading insolvently,” it added.
Following the administrators’ appointment, Unbound said it will implement a sale of the trade and assets of OpCo “to a third-party purchaser as soon as reasonably practicable thereafter”, noting here can be no certainty that any such sale will proceed.
It noted Unbound Group is not a trading company and has no operating revenues while the company currently has minimal cash balances and known creditors of around £0.9 million.
The group has experienced difficult trading in recent years. In 2025, it launched a company voluntary arrangement (CVA), resulting in the closure of 46 stores.
Soon after, it repositioned itself as an online-first multi-brand retail platform targeted at the 55+ demographic and raised fresh funding.
However, troubles were never far behind with the backdrop of rising inflation and “a volatile and unpredictable consumer environment” holding the business back.
In May, it announced a planned £10 million investment by Marwyn Investment Management had fallen through following a revenue decline at Unbound. Days later, the group announced it had entered into a formal sales process after carrying out a strategic review.
Its AGM will be held on 31 July at 11:00am in London. The company said it will provide further updates as appropriate.