Aldo UK sold to BIG

Aldo UK confirmed it has been sold to the Bushnell Investment Group (BIG).

Administrators from accountancy firm RSM were appointed to the footwear retailer back in May.

During this time, Aldo has managed to trade during the economic downturn resulting from Covid-19 and has opened three new sites.

According to parent company The Aldo Group, this sale will “help to maintain and strengthen” the Aldo brand in the UK.

Lee Bushell, the principal of BIG, said: “This is an exciting opportunity and builds on our recent retail investments. Working with the Aldo Group we believe there is a real opportunity to develop this globally recognised brand in the UK.”

Damian Webb, partner at RSM Restructuring Advisory, said: “These two transactions illustrate that there is a future for traditional retailers. Although trading is difficult it is clear that if parties work closely with their stakeholders it is possible to secure a successful outcome which benefits all parties.”