Bonmarché falls into administration again
Philip Day’s Bonmarché has gone into administration for the second time in a year, marking the third major high street collapse in three days.
The retail mogul previously bought Wakefield-based Bonmarché out of administration, in a deal that completed earlier this year.
The latest administration puts 225 stores in the UK at risk of closure, although no immediate closures have been made. The business employs around 1,600 people.
Philip Day’s Bonmarché has gone into administration for the second time in a year, marking the third major high street collapse in three days.
The retail mogul previously bought Wakefield-based Bonmarché out of administration, in a deal that completed earlier this year.
The latest administration puts 225 stores in the UK at risk of closure, although no immediate closures have been made. The business employs around 1,600 people.
It comes after Day’s other chains, Edinburgh Woollen Mill and Ponden Home, were placed into administration last month. Those brands operated from 328 locations.
RSM has been appointed as Bonmarché’s administrator.
Damian Webb, a joint administrator at RSM, said: “Bonmarché remains an attractive brand with a loyal customer base.
“It is our intention to continue to trade whilst working closely with management to explore the options for the business. We will shortly be marketing the business for sale, and based on the interest to date we anticipate there will be a number of interested parties.”
The news comes after Debenhams’ administrators began winding down the department store retailer’s UK operations, which could result in 124 store closures.
On Monday (30 November), Philip Green’s Arcadia Group collapsed into administration, putting around 444 stores in the UK and 22 overseas stores at risk of closure.
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