June 23, 2023, 12:13 pm | Read time: 4 minutes
Stylish outdoor boots have been worn by many members of the royal family, celebrities, and fashionistas. However, Hunter is facing debts totaling 113 million pounds. STYLEBOOK summarizes the situation.
Nearly a dozen employees have already been laid off, and another 110 jobs are at risk. Reports indicate that the famous rubber boot brand Hunter has accumulated debts of nearly 100 million pounds. But how did it come to this?
Overview
What is to blame for the company’s downfall?
According to the Daily Mail, the insolvency administrators attribute the decline of the Edinburgh-based company to dry weather in the U.S., high inflation, high freight costs, and the closure of the Chinese factory during the coronavirus pandemic. Reports indicate that the famous rubber boot brand Hunter has accumulated debts of nearly 100 million pounds.
Customers criticized the poor quality of Hunter boots
However, customers, as reported by the fashion director of The Times, have long complained about the quality of the boots. Since production was moved to China in 2008, it is said to have steadily declined—despite the royal seal from the late Queen Elizabeth II.
Not the first crisis
In 2006, the company went bankrupt due to liquidity problems stemming from high production costs and was subsequently acquired by a private consortium. Production was moved to China in 2008. The company gradually recovered and recorded record sales of 113.8 million pounds in 2018. But even then, business collapsed during the pandemic.
Since 2020, the company has been controlled by Pall Mall Legacy, an investment firm backed by Goldman Sachs. Other investors included Searchlight Capital Partners, a New York-based private equity firm, and the Pentland Group, owner of sportswear brands like Speedo and Berghaus. Additionally, the company recently became part of the U.S. fashion conglomerate Authentic Brands Group, which also owns Ted Baker and Reebok. Hunter has not been truly British for some time now.
Also interesting: 5 tips for finding boots that fit strong calves
History of arguably the most famous rubber boots of all time
The North British Rubber Company, later renamed Hunter, was founded in 1856. They once kept the feet of British soldiers dry in the trenches of both world wars. Later, Hunter boots were worn by British nobility and became a coveted fashion accessory, popular among fashionistas.
Princess Diana made Hunter boots world-famous
In the 1980s, Hunter was even appointed as a royal supplier and received the “Royal Warrant” seal. Queen Elizabeth II wore the knee-high boots in rainy weather. Princess Diana wore them during an official photo session at Balmoral before her wedding—the image of the future Princess of Wales in a Norwegian sweater, baggy corduroy pants, and Hunter boots became legendary.
But Queen Camilla is also frequently seen in the so-called “Hunter Wellies,” and Duchess Meghan braved the English weather with them before moving back to sunny California with Harry.
Hunter boots are a staple at festivals
The boots became iconic when stars like British supermodel Kate Moss, designer Stella McCartney, or It-girl Alexa Chung trudged through the muddy grounds at legendary festivals like Glastonbury. The look of the moment was boots paired with hot pants or summer dresses—a bit of Boho, and very practical!
What the girls from “Atomic Kitten” are doing today
What’s next for Hunter
What’s next? The website is currently being revamped. On Instagram, the company asks its customers for patience as Hunter is in a brief “transition phase.” It would be a sad and abrupt end for the British heritage brand.
Sources