Nearly 3000 jobs at risk as retailer goes into administration
By Sarah Wood | 21st October 2019
Women's fashion retailer Bonmarche has gone into administration for a second time, putting 2887 jobs at risk.
Tony Wright, Alastair Massey and Phil Pierce, of specialist advisory firm FRP, were appointed as joint administrators for the retailer last week, as reported by Retail Gazette.
FRP said the retailer, which has a store in Gloucester and a concession at Hillier Garden Centre in Lechlade, will continue to trade as usual, with no immediate job losses or store closures. It will now assess the options to secure its future and look for a buyer.
The administrator is confident that is will be able to find a company to take on the business.
The retailer has struggled with rising business rates and wages, as well as a decline in consumer spending and high street footfall and has concluded that its current business model is no longer working.
Bonmarche previously went into administration in 2012, when it was bought by private equity firm Sun European Partners. Philip Day, the retail tycoon owner of the Edinburgh Woollen Mill Group, purchased a majority stake in the business earlier this year.
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