Womens fashion chain Bonmarché has announced plans to list its shares on the stock market.
Founded in 1982, the company was acquired by investment firm Sun European partners in 2012, after former owner Peacocks went into administration.
With a customer loyalty database of around 6,500 customers, Bonmarché sells its primarily own-brand products through 264 stores, a website, mail order catalogues, telephone order service and a TV shopping channel.
Since the acquisition, Sun European has been implementing a turnaround strategy which has led to a rise in profitability and the opening of new stores.
A minimum of 40% of the issued share capital is expected to be offered to investors in the flotation as the company looks to list on the Alternative Investment Market in November.
Beth Butterwick, Bonmarché chief executive, said: “The success and strong financial performance enjoyed by the business over the last 18 months, coupled with our exciting growth strategy, makes this is an opportune time to bring the company to AIM.
“Bonmarché is the largest pure-play retailer dedicated to the over 50s female customer, providing quality clothing at an affordable price. We are confident that our competitive position and loyal customer base means that we are well placed to capitalise on this attractive and fast growing niche of the retail sector. We have identified a number of opportunities to expand our retail offering through enhancing our product range, developing our store portfolio and optimising our multi-channel offering, providing a positive customer shopping experience and business growth.”
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