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Women’s clothing chain Bonmarché has confirmed that its chief executive Beth Butterwick is to step down after four years to join Karen Millen in the same role.

GENERAL MERCHANDISE

Women’s clothing chain Bonmarché has confirmed that its chief executive Beth Butterwick is to step down after four years to join Karen Millen in the same role.

While the company conducts a search for her successor, Butterwick will remain in post until a new chief executive is appointed to ensure a smooth transition.

John Coleman, Bonmarché chairman, said: "On behalf of the board, and all our colleagues at Bonmarché, we thank Beth for her exceptional contribution over the past four years.

"She has led the business through a transformative period, through the acquisition by an affiliate of Sun Capital Partners in 2012, the IPO on AIM in 2013, and most recently the company's transition to the London Stock Exchange's Main Market as one of the UK's largest women's value retailers.

"Beth has imbued Bonmarché with a sense of energy and purpose, and today the business is well-placed for long-term success, with a robust balance sheet, strong management, and a carefully formulated growth strategy. We wish her all the very best for the future."

In an update on current trading, Bonmarché said trading conditions during December, particularly since "Black Friday" on 27 November, have been “very challenging and have not normalised” and are likely to continue for the remainder of the winter season.

The company has therefore revised its profit expectations for the current financial year and said that pre-tax profit is likely to be within the range of £10.5 million to £12 million.

Bonmarché will issue its post-Christmas trading update on 15 January 2016.

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