The former owners of Jones Bootmaker have bought back a majority share in the 90-store British chain. Ken Bartle, the company’s chief executive, and Peter Phillips, its chairman, have paid £4.5 million (€5.0m-$6.7m) to gain a 70 percent stake from the private equity firm Arev and its Kcaj fund – to which they had sold the business in 2005. Arev and Kcaj are backed by Icelandic investment firms and escaped going bankruptcy only after restructuring their agreements with lenders in February. They now own a combined share of just 18 percent of Jones Bootmaker, which is reported to have annual sales of £80 million (€89.7m-$119.0m). Bartles told Drapers magazine that he wanted to introduce more branded products in the chain. He and Phillips also struck a £5 million (€5.6m-$7.4m) refinancing deal with Barclays Commercial Bank.