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Footwear retailer Schuh has been acquired by US-based retail group Genesco for a £125m sum.
Genesco, which is headquartered in Nashville, Tennessee, sells footwear, headwear, sports apparel and accessories in more than 2,285 retail outlets in the US and Canada under the Journeys, Journeys Kids, Shi by Journeys, Underground Station, Lids, Johnston & Murphy and Dockers footwear fascias.
As part of the sale, the Scottish-based footwear retailer will distribute £37.3m of the sale proceeds to its staff .
"We are delighted to become part of Genesco....