Wed, 02 Dec 2020 | ADMINISTRATION
Fashion retailer Bonmarché has fallen into administration for the second time in a year. The clothing chain, which was acquired by Philip Day’s EWM Group in February, has appointed Damian Webb and Gordon Thomson of RSM Restructuring Advisory as joint administrators.
The Wakefield-based firm specialises in fashion for women over 50 and operates from 225 shops, with around 1,500 staff. Prior to its administration in October 2019, the retailer employed around 3,000 staff from 314 stores.
EWM Group has been hit hard by the growing crisis among UK high street retailers, warning in October that it was close to collapse. In November, its flagship store Edinburgh Woollen Mill went into administration, along with the Ponden Home brand.
This was followed later the same month by retailers Peacocks and Jaeger, which includes formalwear retailers Jacques Vert and Austin Reed, also falling into administration.
Joint administrator Damian Webb of RSM said: “Bonmarché 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.”
Potential buyers for EWM Group retailers are said to include Mike Ashley’s Frasers Group and private-equity backed Torque Brands.
The news of Bonmarché's administration comes in the same week that Arcadia group and Debenhams have collapsed.
View the latest distressed UK businesses here.
This is a prime opportunity to acquire a well-established school uniform and workwear retailer in South East England, featuring a lucrative client base and significant growth prospects.
LEASEHOLD
Located in the prestigious Cheshire’s Golden Triangle, this well-established retail butchers boasts an excellent reputation for premium quality produce and exceptional customer service.
LEASEHOLD
An established motor factor business in Huddersfield presents a turnkey opportunity for investors seeking a ready-made enterprise with a proven track record.
LEASEHOLD
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.