Hotter Shoes CEO and CFO exit following administration
Ian Watson has been in charge of the footwear retailer since March 2019, while Gavin Manson was the business’ CFO from October 2022
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Hotter Shoes chief executive, Ian Watson, and chief financial officer, Gavin Manson, have stepped down following the recent pre-pack administration, Drapers has reported.
This announcement follows last week’s news that Hotter Shoes was acquired by lifestyle brand WoolOvers out of administration for £6.7m.
Watson has been in charge of the footwear retailer since March 2019, having previously held the position of CEO at Start-Rite Shoes, a children’s footwear brand.
He was also European managing director of German manufacturer Britax Childcare.
Meanwhile, Manson was the business’ chief financial officer between August 2016 and February 2022, as well as from October 2022 until now.
Moving forward, Hotter Shoes will have all of its 421 employees and 27 stores and concessions transferred to WoolOvers.
The administrator at Interpath Advisory said: “Following an extensive exploration of options, it became clear that it would not be possible to conclude a transaction on a solvent basis.”
Mike Lester, CEO of WoolOvers Group, told Drapers: “We are trying to stabilise the business and to focus on getting the stock in place for autumn/winter. It’s a well-loved heritage brand and we want to get it up to where it was as quickly as possible.
“We will start direct mail marketing again. Historically, the business has had a strong catalogue-driven business, driving traffic both online and into call centres. We plan to get that up for the autumn/winter season.”
He added: “We will continue to operate its own standalone ecommerce property and we intend to run the brand as a distinguished entity, and it wouldn’t be merged into WoolOvers.”
