Reporting Accounts - news and updates
Clarks shoes sells out to HK private equity fund
In today's episode our in-house fianancial professional talks about Clarks Shoes the 195 year old family owned business. They have a chain of 320 high street stores and have had a tough time recently with the Lockdowns and the move to online retail. They have announced their sale to a HK based private equity house. Whilst restructures have reduced costs, they are not enough for it to remain viable without investment. Like so many similar companies Clarks just did not embrace change fast enough and now they have fallen into foreign hands. There is however huge international potential for their shoes and of course the potential for online growth, both of which their new owners recognise.
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