TWO High Street shoe shops have become the latest victims of the credit crunch.

TWO High Street shoe shops have become the latest victims of the credit crunch.

Barratt and Priceless Shoes have gone into administration, with Deloitte appointed to oversee the operation.

The firms, owned by Bradford-based Stylo, have 400 UK stores. All will stay open just now, with no immediate threat of job losses among the 5450 staff.

Barratt has stores on Glasgow's Sauchiehall Street, at Braehead, Silverburn, the Fort and St Enoch Shopping Centres.

Priceless has shops in Sauchiehall Street, Clydebank and at the Forge.

Stylo has not gone into administration.

Deloitte partner Daniel Butters said: "Stylo has faced a downturn in trading as a result of the current difficult economic and market conditions."

Last February, Stylo took on parts of the Dolcis business, acquiring the brand and stock, as well as 24 stores and a number of concessions.

The following month, Stylo sold its Shellys footwear brand to Eternal Best Industries.

It has been reported the firm lost £9.3million in the six months ending August 2.