Bank confirms remaining store closures

Fashion retailer Bank, which fell into administration in January, has confirmed that it will close its remaining nine stores by the end of April.

JD Sports sold Bank in November of last year to Hilco Capital, but the investment group could not revive the struggling young fashion chain and it was put into administration on January 5.

Originally Bank had 84 stores across the country, mostly in the Midlands, north England and Scotland and had 1,555 employees, and its administrator Deloittes has confirmed that the last stores are to close this month.

Bill Dawson, joint administrator and partner in Deloitte’s restructuring services practice, said: “Unfortunately no purchaser could be found for the business as a going concern, although its intellectual property is still for sale. We would like to thank the company’s employees for their support and professionalism during this difficult period.”

Its intellectual property assets includes the Bank domain name, trademark protection, customer database and in-house fashion brands including womenswear label Ribbon, Heaven Sent, women’s footwear brand Kitsch Couture and streetwear brand Fred and Boston, as well as its social media accounts.