Bonmarche rescue hopes
WOMENSWEAR retailer Bonmarche is close to being rescued by rival Peacocks after going bust last month, but around 240 workers could still lose their jobs before Christmas.
Peacocks, part of billionaire retail tycoon Philip Day’s Edinburgh Woollen Mill Group, has been named by administrators as the preferred bidder for Bonmarche, which continues to trade from 285 High Street shops.
Bonmarche is preparing to close 30 stores, which employ around eight people each, and the future of the rest remains in doubt. If a deal is done they are set to trade under the Peacocks name.
Day took control of Bonmarche just before it went bust in October, when he saw his £5.7m stake wiped out. Administration means he can take on the stores without Bonmarche’s debt and leases.
Administrator Tony Wright, of FRP Advisory, said a deal depended on talks between Peacocks and landlords, and there was still a risk Bonmarche could cease to trade.