GENSOCIAL
Women’s clothing chain Bonmarche has collapsed into administration for the second time in just over a year, putting more than 1,500 jobs under threat.
RSM Restructuring Advisory, which has been appointed to handle the administration, said all of Bonmarche’s 225 stores will remain open and there are no redundancies yet as it looks to agree a rescue deal.
It comes after Bonmarche, headquartered in Wakefield, plunged into administration in October 2019, before administrators agreed a rescue deal with retailer Peacocks.
Despite the deal, 30 stores were closed before last Christmas and the deal led to more than 1,300 job losses.
Damian Webb, joint administrator of RSM Restructuring Advisory, said: “Bonmarche remains an attractive brand with a loyal customer base.
“It is our intention to continue to trade whilst working closely with management to explore the options for the business.
“We will shortly be marketing the business for sale, and based on the interest to date we anticipate there will be a number of interested parties.”
News of the firm’s collapse comes during the worst week for UK retail, with a high street bloodbath already putting around 25,000 staff at Arcadia and Debenhams in jeopardy.
13,000 staff at Sir Philip Green’s Arcadia Group face an anxious wait following the business collapsing into administration.
And Debenhams, which is already in administration, said it would start a liquidation process after JD Sports confirmed it had pulled out of a possible rescue. The department store has around 12,000 staff.
