Shoe chain Aldo collapses amid retail woe

Shoe chain Aldo is the latest retailer to collapse during the pandemic in the UK just weeks after its Canadian parent company sought creditor protection abroad. The UK arm has now shut five stores, with administrators at RSM working to explore “future options” for its remaining eight stores. The retailer said that coronavirus coupled with “historic profitability challenges”, as well as an “unprecedented collapse in retail spending” led to its administration. I