Richard Fleming, Chris Laverty, Ed Boyle and Mark Firmin were appointed administrators to Bonmarché, the clothing retailer, on Friday 20th January. The administrators immediately sold 389 stores, and its headquarters, to Sun European Partners. Two stores – one in Balham and a second in St Albans – were in a consultation process before the appointment of administrators and closed, as scheduled, on Saturday. The two stores do not form part of the transaction and the 12 staff who are on consultation will be made redundant. A third store in Perth, which is not commercially viable, is also not part of the deal and the administrators will wind the store down, resulting in 7 redundancies once this process has been completed.
Chris Laverty, joint administrator and restructuring partner at KPMG, said:
“Given the hostile conditions on the high street, we’re pleased to have concluded a sale with Sun European Partners. The deal is a positive step forward in underscoring Bonmarché’s future.”