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Faith Shoes was a premium retailer of footwear and accessories in the UK and Ireland. The business operated from 78 standalone stores, 126 department store concessions and a transactional website, turning over £72 million at its peak.

The business suffered from challenging trading conditions during the 2008 economic downturn and entered administration. Despite being acquired by a new management team who sought to negotiate reduced rental costs, revitalise the brand and refurbish flagship stores, the business continued to lose money and was under threat of receiving a winding up petition from its creditors.

Faith Logo
Faith Image

Hilco Capital’s role

  • Acquired the bank’s security
  • Appointed by the company’s Administrators to manage retail operations while a buyer was sought
  • Worked with Faith’s management to quickly understand the profitability of each store and concession
  • Following this exercise, it became apparent that many of the stores had become substantially loss making
  • Launched a store closing sale in the absence of credible offers for the business as a going concern
  • Worked with the Administrators to negotiate the onward sale of the concession business, residual stock and the Faith brand


  • £3 million trading profit achieved for the company’s creditors through the store closing sale
  • Going concern sale of the concession business to Debenhams achieved, preserving 600 jobs
  • Brand sold for a seven figure sum to the benefit of the Faith’s creditors
  • Hilco Property negotiated a lease premium for assigning the former flagship Oxford Street store
Faith shoe