Bonmarche hires administrators in further blow to UK high street
Budget fashion retailer Bonmarche has fallen into administration for the second time, putting 1,500 jobs at risk, in a further blow for the UK high street after days of grim announcements.
RSM Restructuring Advisory has been appointed as administrator to BM Retail Limited, which operates the Bonmarche brand from 225 stores in the UK.
No redundancies or store closures have been made immediately while administrators launch a sales process for the business.
RSM said it anticipates there will be “a number of interested parties”.
This morning’s announcement comes after two major high street retailers collapsed earlier this week, putting a total of 25,000 jobs at risk.
Topshop owner Arcadia filed for administration on Monday, while administrators to department store chain Debenhams announced it would begin winding up its UK operations after failing to find a buyer.
Damian Webb, joint administrator of RSM Restructuring Advisory, 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.
“We would like to thank the Bonmarché staff for continuing to support the business during these challenging and uncertain times for those individuals personally.”
More to follow