Partners Tony Wright, Alastair Massey and Phil Pierce have been appointed as Joint Administrators to womenswear retailer Bonmarché, on Friday 18 October 2019.
Bonmarché is a fashion retailer targeting the over-50s market. The Wakefield-based business employs 2,887 people, including 200 staff at its head office, and trades through 318 stores across the UK, online and by telephone.
The Directors took the step to place the business into administration after a sustained period of challenging trading conditions and cashflow pressure, which meant the business was unable to meet its financial obligations as they were due.
FRP will now continue to trade Bonmarché while assessing options to secure a future for the business. All stores remain open and no redundancies have been made.
Tony Wright, Joint Administrator and FRP Partner said: “Bonmarché 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. There is every sign that we can continue trading while we market Bonmarché for sale and believe that there will be interest to take on the business.”
Interested parties should contact Luke Wilson on 020 3005 4000.