Fashion retailer Bench files for administration

Wed, 02 May 2018 | ADMINISTRATION

Another of the UK’s most recognisable high street brands could be up for sale as fashion retailer Bench confirmed it had filed for administration.

In a notice issued to shareholders and staff today, Bench said that it had filed an application with the relevant UK authorities despite spending the past few months working “tireless” on turning the business around.

The firm said that difficulties facing the UK retail market – which have seen many high street names fold or enter administration – as well as a one-off major logistics issue in 2016 were major contributing factors to a recent downturn.

Bench was founded in Manchester in 1989 and originally sold graphic T-shirts with designs inspired by skateboarding. It has since evolved into a global lifestyle brand, encompassing menswear and womenswear, and currently has 20 UK stores and 15 German retail locations.

The stores will remain open during the administration, Bench’s owners say, with operations continuing as usual in the immediate future. No staff cuts have been announced, though 176 UK jobs and 170 German positions may be at risk.

Bench’s CEO, Barry Knight, said that despite widespread efforts to keep the company alive – alongside several cash injections from the firm’s owner – the company’s management were “not able to get the company onto a sustainable economic footing”.

He added: “We faced a lot of headwind due to the devaluation of the British pound, the competitiveness and the declining market in our fashion segment. Ultimately, it was not possible for us to generate further liquidity for the company, on either an equity or on a debt basis.

“Our task now, together with the administrator, is to achieve the best possible outcome in this situation”.

Share this article

Latest Businesses for Sale

Iconic British Motorcycle Manufacturer
Oxfordshire, South East, UK

Hand built in their workshop in Oxfordshire and delivered to enthusiasts and collectors all over the world, this is a fantastic and very rare opportunity to take on a truly iconic brand and develop the business to bring out the full potential that br...

Asking Price: £3,750,000
Turnover: £500,000


Recruitment Company: Transport, Logistics & Warehousing Sectors
North West, UK

Offers a comprehensive employment process to ensure all candidates are qualified and meet the required safety and licence checks. Offers invited.

Asking Price: Offers Invited
Turnover: £3,200,000


Business Resilience Continuity Consultancy
London, UK

Provides a range of specialist consultancy through planning, training and exercising, with a focus on crisis management and business resilience and continuity. Offers invited.

Asking Price: Offers Invited
Turnover: £713,000


View more businesses for sale

News Search

Latest News


Equity funding reaches record high for SMEs | BUSINESS NEWS

As investment rises outside of the capital, small businesses...


Sipp firm with a total investment value of £130m enters administration | ADMINISTRATION

GPC Sipp Limited, a firm specialising in providing technical...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide


Related News


Sipp firm with a total investment value of £130m enters administration | ADMINISTRATION

GPC Sipp Limited, a firm specialising in providing technical...


Administrators called in for Newport radiator company | ADMINISTRATION

A radiator manufacturer headquartered in Newport, South Wale...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources