BONMARCHE has become the latest victim of the high street downturn after collapsing into administration, putting 2,887 jobs at risk.
The brand has recently struggled with rising costs, such as business rates and rising wages, as well as dwindling footfall on UK high streets.
The Wakefield-based womenswear retailer which targets the over-50s market, employs 2,887 people, including 200 staff at its head office, and trades through 318 stores across the UK, online and by telephone.
Tony Wright, Joint Administrator and Partner at FRP Advisory, said: “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. 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.”
“All stores remain open and no redundancies have been made,” the administrators said in a statement.
It is the second time the business has fallen into administration in seven years, after it was previously bought in a rescue deal by private equity firm Sun European Partners in 2012.