Bonmarche: Almost 2,900 jobs at risk as high street firm collapses into administration
‘Persistent challenges facing retail have taken their toll’, administrators say
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Your support makes all the difference.Thousands of jobs were put at risk after womenswear retailer Bonmarche collapsed into administration following a “sustained period of challenging trading conditions” on the British high street.
The company, which operates in 318 stores in the UK, employs 2,887 staff across the nation’s high streets as well as 200 at its head office.
Despite being handed on to administrators, the firm is expected to continue to trade and there are not expected to be any immediate job losses, as options for the future of the company are assessed.
“Bonmarche has been a staple on the UK high street for nearly three decades, but the persistent challenges facing retail have taken their toll and led to the administration,” administrator Tony Wright said.
“There is every sign that we can continue trading while we market Bonmarche for sale and believe that there will be interest to take on the business.”
Administrators added that “all stores remain open and no redundancies have been made”.
It is the second time Bonmarche has gone into administration in the last seven years after being rescued by private equity firm Sun European Partners in 2012.
The firm is believed to have struggled with rising costs and dwindling footfall as more shoppers head online to make purchases.
It follows others in the sector to have struggled in tough trading conditions in recent years.
Toys R Us went into administration in February 2018, while brands including New Look were forced to close a number of stores earlier in the year to keep the business viable.
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