Bonmarché enters administration
Women’s fashion retailer Bonmarché has called in administrators after battling against a “sustained period of challenging trading conditions”.
The business was also affected by cashflow pressures which meant it was unable to meet its financial obligations.
The company appointed FRP Advisory as administrators today and asked the firm to seek a buyer for the business. The move puts nearly 2,900 jobs at risk but FRP said there have been no redundancies at this stage and that Bonmarché’s 318 shops will remain open.
Tony Wright, joint administrator and partner at FRP Advisory, said: “Bonmarché has been a staple on the British high street for nearly three decades. But the persistent challenges facing retail have taken their toll and led to the administration.
“There is every sign that we can continue trading while we market Bonmarché for sale and believe that there will be interest take on the business.”
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