2500 jobs slashed at shoe firm.

AROUND 2500 jobs are to go at embattled Barratts and Priceless shoe group Stylo, administrators announced yesterday.

Deloitte said 220 stores would have to close.

But the administrators confirmed they had secured the sale of 160 shops and 165 concessions in a move expected to save 3000 jobs.

The deal has been struck with Stylo's management team, led by chairman Michael Ziff.

Deloitte said that while the job losses were "regrettable" the sale of the remaining stores means the Barratts and Priceless brands will continue on the high street.

Deloitte's Neville Kahn said: "We will be working closely with the Redundancy Payments Office and Jobcentre Plus to provide support for all staff."

Stylo collapsed into administration on Tuesday after initial attempts to rescue Barratts and Priceless foundered.

Fashion retailers OSC and Qube footwear stores also went into administration yesterday, with the loss of 438 jobs across the UK.

Administrators KPMG closed one Qube and 11 OSC outlets in Scotland, making 99 staff redundant.

Richard Fleming, joint administrator, said: "It has been well documented that both companies have been running at a substantial loss in the wake of extremely tough trading conditions."

CAPTION(S):

TROUBLED: Barratts