Sylo, the footwear retailer, is expected to confirm today that its rescue plan has been rejected by creditors – placing the company’s future in serious doubt.

Stylo called a key meeting yesterday in which 75% of creditors and landlords needed to back plans to place its Barratt and Priceless shoe chains into a Company Voluntary Arrangement.

However, the landlords, which include FTSE 100 property companies Hammerson and Land Securities, feared the scheme would leave them with hundreds of empty properties across the UK and set a dangerous precedent.

Daily Telegraph