Shoe Studio Group Sold to Footwear Retailer Dune

U.K. department store concession and footwear retail business The Shoe Studio Group, part of Mosaic Fashions, which went into administration this week, has been sold to U.K. premium footwear retailer Dune.

Dune was previously part of the Browning Group that pulled out of footwear supply a few weeks ago. The footwear supplier, who previously worked with Stylo, which is now in administration, ceased trading last month. However, Browning Group's Dune was unaffected by the move. Browning Group's license division B-Brands supplied Fullcircle and Morgan footwear.

Parts of Mosaic—Karen Millen, Warehouse, Coast, Oasis and brand Anoushka G—have been bought by chairman Derek Lovelock and management, backed by Icelandic bank Kaupthing. Lovelock's new business will be called Aurora. The only remaining element to be sold is the Principles chain. Mosaic went into administration because of heavy debt as a consequence of the demise of Icelandic retail investor Baugur.