It’s a Black Friday indeed for UK shoe lovers, as Faith shoes announced today that the company has gone into administration, with the above message posted on their website.
All is not quite lost for Faith, and there are already rumours of a buyout by department store Debenhams, which already carries Faith stock as one of its concessions. We have all of our fingers crossed that something can be done to allow the brand to continue: they’ve been an intrinsic part of the UK high street for a long time now, and have produced some beautiful shoes over the years, so it would be very sad to see them go out of business altogether.
Here’s hoping for better news soon: Faith, we’ll miss you if you go!
[via Shoewawa]
I’m American and have not heard the term “in administration” used in this context. Does it mean that they’re bankrupt?
Thanks for being supportive! i am part time staff at faith and will be gutted if we go. i love my job, especially the people i work with!