Bon­marche res­cue hopes

Scottish Daily Mail - - City & Finance -

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.

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