DISCOUNT retailing chain North Shoe Limited has agreed a £22.9million takeover by department store company Brown & Jackson, reaping a multi-million pound fortune for its founder.
North Shoe, which trades as The Famous Brunswick Warehouse and has a store on the Towns Moor estate, Blackburn, sells items including sports clothing and shoes.
The chain, which will continue trading under its own name, was founded in 1993 in Newcastle-upon-Tyne by 43-year-old Anthony Soloman.
Mr Soloman, who owns 65 per cent of the company, will see his stake valued at about £15million under the deal.
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