Clarks calls in McKinsey & Co to conduct business review

British footwear retailer Clarks has called in consultants from McKinsey & Co to conduct a review of the business and assess its options amid difficult trading.

Finance director Paul Kenyon is also leaving the family-owned shoe chain to join private Independent Vetcare chain, which is chaired by former WH Smith boss Kate Swann, The Sunday Times reports. Former Low & Bonar CEO Philip de Klerk will reportedly be replacing Kenyon as interim finance director.

The news comes after the retailer, which has 553 shops across the UK and Ireland and almost 12,000 employees, reported an 82.9 million post-tax loss for last year. Part of that came in the form of a 50 million pound hit on the value of its UK and US properties.

In February, Giorgio Presca was appointed as new CEO to guide the almost-100-year-old company through its restructuring.

In March, the retailer announced plans to close its last UK factory in Street, Somerset, after it failed to meet targets.

Photo credit: Clarks Shoes, Facebook