The owners of Lakeland Leather have revealed plans to work with a retail restructuring specialist to help rescue its 18 remaining stores.
Felldale Retail Ltd and its director, Martin Foster, has bought the stocks, assets and Lakeland Leather trading name from the administrators and is now working to save each outlet from closure, including the one in Sanderson Arcade, Morpeth, pictured, which has seven workers.
Mr Foster said: “We face some short-term challenges as the Lakeland business was massively overstocked following poor sales caused by the recent mild winter weather.
“I’ve set the business a challenge to quickly sell £1million worth of leather stocks including jackets, handbags and luggage. We need these sales to help prevent the specialist leather retailer from disappearing from the high street.”
Founder of the business, Richard Standring, said: “Felldale Retail Ltd has bought us time and given us a fighting chance to save Lakeland Leather.
“We’re confident in Martin’s expertise and our plans to help us fight tooth-and-nail to survive.”