Bank news and archive

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...

Retail |UPDATE

Bank continues to close down stores

Distressed young fashion retailer Bank, which fell into administration last month, is set to shut down an additional 11 stores before the 15th of this month. The new store closures would see close to half of all Bank's existing stores having stopped trading, after appointed administrators Deloitte said the remaining 64 stores would continue to...

Retail

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...

Business

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...

Business

JD Sports sells off struggling fashion arm Bank

JD Sports Fashion announced the sale of its struggling fashion arm Bank on Tuesday morning, as the group aims to focus on investing and improving its sportswear labels. The holding company, which owns Ark, Cloggs and Scotts, has disposed of Bank to a subsidiary of Hilco Capital Limited, in a deal which should result in “a substantial recovery of...

Retail

JD Sports asks for rent cuts at struggling Bank stores

UK retailer JD Sports is said to be in talks with retail landlords to reduce rent on a number of its Bank stores, as the retailer looks to cut down costs for its loss-making fashion branch. Peter Cowgill, Executive Chairman at JD Sports revealed to Reuters that the firm had spoken to landlords and is asking to switch to a turnover-based rents on...

Fashion

JD Sports expanding its businesses

JD Sports Fashion retailer is busy expanding its business model and preparing to enter the fitness category. The fashion and sportswear retailer has acquired its first fitness center in hopes of launching a chain of value health and leisure clubs. JD Sports has signed a ten-year lease for a former Fitness First gym in Hull. The sportswear and...