Bonmarché falls into administration
British fashion chain Bonmarché has fallen into administration, putting more than 1,500 jobs at risk.
The company, which has 225 stores in the UK, is owned by British retail tycoon Philip Day, whose other chains Edinburgh Woollen Mill, Peacocks, Jaeger and Ponden Home fell into administration last month.
Bonmarché has appointed administrators from BM Retail Limited.
“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,” said joint administrator Damian Webb in a statement.
“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.”
A difficult week for the high street
Bonmarché, which specialises in clothing for women over 50, has previously fallen into administration three times, most recently last year before it was rescued a month later by rival Peacocks.
It adds to what has been a brutal week for UK retail, with high street stalwart Arcadia falling into administration, putting 12,000 jobs at risk. The group, whose portfolio includes Topshop, Burton and Dorothy Perkins, has appointed administrators from Deloitte after the company’s trading was “severely impacted” by the pandemic.
Also this week, iconic department store Debenhams announced it would be winding down its business and closing its 124 stores, putting 12,000 jobs at risk. Hopes had rested on a last-minute rescue deal from JD Sports, which fell through.
Photo credit: Bonmarché