Bank administrators let go of 35 head office employees

Deloitte, the appointed administrators of fashion retailers Bank, have revealed that 35 members of staff at the retailers head office in Bury, Lancashire have been made redundant, after the fashion retailer went into administration on January 5, 2015.

The head office redundancies are the first to be made, as no employees at Bank's 84 stores have been made redundant. The fashion retailer now has a total of 1,520 employees following the redundancies.

"While we continue to talk to interested parties about a sale of parts of the business, the company’s current cost base is not sustainable during the administration period and this has necessitated today’s redundancies at head office," said Bill Dawson, Deloitte joint administrator and partner to Retail Week.

Bank's administrators previously stated that several parties had shown "expressions of interest" in Bank's store portfolio.