MORE than 1,000 jobs are believed to be at risk at a 160-year-old shoe company.

The owner of Jones Bootmaker has filed a notice to appoint administrators to stave off creditors as it seeks a buyer.

Jones has stores in Durham City and Newcastle.

It is understood Jones’ owner, private equity firm Alteri, and advisers KPMG are in negotiations with potential buyers and have “credible”

offers on the table.

It is also thought Jones could be sold as a going concern or through a pre-pack administration, where the firm is placed in administration but the assets are immediately sold to a new owner.

Pre-packs are seen as controversial by some as they often see buyers ditch unprofitable stores and avoid taking on much of the debt.

Jones, which employs around 1,145 people across the UK, was bought by Alteri for £12m in 2015 in a deal that included shoe retailer Brantano.

However, it is believed the chain has struggled with difficult high street trading conditions and rising costs brought on by the introduction of the national living wage and the pound’s plunge since the Brexit vote.