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.
Famous destination furniture & flooring retailer, renowned for beds, sofas and chairs from quality British manufacturers. Occupying highly visible high street trading position within the popular East Devon town of Honiton, being easily accessible, be...
LEASEHOLD
Established well known home, hardware, DIY & garden store plus school uniform supplier. Occupying prime Ivybridge town centre trading position, fronting the main shopping thoroughfare, benefiting from restricted stay car parking immediately in front,...
LEASEHOLD
Major landmark store, 100+ years established, occupying valuable trading position within this mid Devon town, centrally positioned on Crediton high street, opposite Costa Coffee, close Tesco Express, with free restricted stay car parking immediately...
FREEHOLD
26
|
Apr
|
Major double glazing firm Everest enters administration | ADMINISTRATION
Everest, one of the largest providers of double-glazing in t...
26
|
Apr
|
Kent-based scientific consultancy sold to US firm | BUSINESS SALE
A4P Consulting Limited, a scientific consultancy company hea...
25
|
Apr
|
Ambulance services provider acquired in pre-pack deal | BUSINESS SALE
Elite Emergency Medical Services Ltd (Elite EMS), an ambulan...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
We can help you capitalise on insolvent businesses. We list UK businesses in administration, liquidation and with winding up petitions daily. Ensuring our members never miss out on an opportunity
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.