Bank announces first store closures

Struggling young fashion retailer Bank, which fell into administration last month, is to make its first store closures this month, as the search for a buyer for the business continues.

The retailer will close its first 10 stores in Stockport, Bury, Wolverhampton, Doncaster, Warrington, Edinburgh, Carlisle, Chester, Livingston and Cardiff towards the end of February, according to Drapers.

This will be followed by a further 10 stores in Leamington Spa, Dundee, Bristol, Wrexham, Middlesbrough, Romford, Inverness, Macclesfield, Stevenage and Glennelly in Northern Ireland in early March.

These closures follow the 35 redundancies at its head office in Bank.

Deloitte, who were appointed administrators on January 5, said the remaining 64 stores will continue to trade, as they continue to search for a buyer for the business.