by Chris Holland Business Reporter Retail boss Michael Ziff has warned that more stores could go at the Bradford-based shoe chain Barratts Priceless as the rescued business enters negotiations with property landlords over rents and leases.

Speaking after what he described as the “shattering” experience of buying the struggling Apperley Bridge-based business back from administrators for the second time in three years, Mr Ziff also revealed that the focus would be on building up its online operations as the outlook for the high street remained grim.

Mr Ziff warned that building a successful operation from the scaled down Barratt Priceless business would be tough in the current retail climate.

He said: “We went to the wire in putting this deal together and it was a shattering experience with many obstacles to overcome. It went to the wire, but we managed to get over the line.

“Now we must focus on rebuilding the brand and restructuring the business and the focus will be on the online operation where we previously enjoyed growing success. On the high street we’ll be negotiating over rents and, depending on the success or otherwise of that process, I can’t rule out the loss of some more stores.”

Mr Ziff, whose family has run Barratts since 1935, struck a last-minute deal to save more than 1,000 jobs at the weekend. The buy-back of the business included the closure of more than 50 outlets and the loss of a further 680 jobs after Mr Ziff’s Barratts Trading agreed the deal with the business’s existing management team.

The company went into administration last month and around 1,600 jobs have already been lost after attempts to find a buyer for its concessions business failed, but this did not affect the stand-alone stores.

The existing management team has bought 89 Barratts Priceless stores and the e-commerce business from administrator Deloitte for an undisclosed sum, but will close a further 39 shops and 14 concessions. This is in addition to the closure of 18 stores before Christmas. The 1,184 jobs saved are spread across the UK, Ireland and the company’s Bradford head office.

Mr Ziff said he led the move to buy back the business again as he wanted the challenge of trying to make it succeed in a marketplace that he expected would remain tough throughout 2012.

He said: “I am delighted that we have been able to conclude this deal and save as many jobs as we have. The last few months have been very challenging, but we have a great team in place.”

Stylo, which owned the Barratts and Priceless Shoes brands, previously put the chain into administration and closed 220 out of 380 stores. Mr Ziff, who was Stylo chairman, bought 160 stores from administrators in March 2009.

Meanwhile, budget clothing retailer Peacocks, which has an outlet at the Morrisons Enterprise 5 store at Idle, is calling in administrators. The group also said it was in talks with a potential buyer for its Wakefield-based Bonmarche business.