Jacobson expands shoe chain

Shoe retailer Harvey Jacobson has bought 25 factory outlet stores from struggling rival Stead & Simpson.

The price of the deal between Salford-born Jacobson and troubled operator Stead & Simpson has not been disclosed.

Jacobson's Rossendale-based shoe empire, D Jacobson & Sons, boasts a turnover of £64m, and the trader has a history of rescuing problem brands. He bought shoemaker Lotus from administrators in 2004 and has turned the Gola brand around since purchasing it in 1996.

Jacobson plans to use the outlet stores to clear excess stock.

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