Leicester shoe chain Stead & Simpson closes 90 stores
Hundreds of high street jobs are set to be lost after a shoe retailer said it was to close 90 stores.
Stead & Simpson, based in Leicester, said it had decided to axe more than a third of its 230-strong branch network.
One of the stores which has already closed is in Cheapside, Leicester.
Stead & Simpson was bought out of administration by the Shoe Zone Group in 2008.
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Naomi Shefford, Shoe Zone marketing and property director, said the closures followed a review of the business.
She said: "In locations where we have two stores on the same high street, or where stores were not profitable, we had to make a decision to ensure the company continues to be successful.
"We anticipate a further improvement in profitability in 2013."
The company would not say how many staff could be affected, but some reports suggest more than 500 jobs could be lost.
Shoe Zone, which has its head office in Haramead Business Centre, off Humberstone Road, close to Leicester city centre, employs more than 5,000 people.