Companies

Bonmarché collapses into administration

Dec 3, 2020 United Kingdom

The retailer based in West Yorkshire has collapsed into administration for the second time in a year. 1 500 jobs are at risk

Bonmarché’s announcement follows Arcadia call in the administrators and Debenhams entering liquidation, all in the same week - READ all about it HERE. And all this is taking place as non-essential retailers across England reopened their doors on Wednesday after a four-week lockdown

This news comes at a moment of not very good perspectives for the retail market in the UK, as our Retail Flash report published recently anticipates – ACCESS the report HERE.

The company felt in an administration process in October 2019, and was taken over by Philip Day, owner of several high street retailers. The widespread of the COVID-19 pandemic has affected fashion sales particularly badly, as the lockdowns and restriction of movement kept people at home more time, in telework and with the cancelation of holidays, parties and weddings, stock accumulated in the closed stores.

The Yorkshire-based chain focuses on lower-priced clothing for consumers over-50s and according to some analysts might still be an attractive brand given its loyal customer base.

Image credits: bbc.com

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