Bonmarché, the Wakefield-headquartered high-street fashion chain, has collapsed into administration, jeopardising almost 3,000 jobs.
The company, which operates over 300 stores across the UK, has had a tumultuous few months as it weathers the fallout from “challenging” trading conditions and “cash flow pressure”.
Things worsened in August when the retailer was delisted from the London Stock Exchange.
Now business advisory firm, FRP Advisory, has been appointed as administrator.
“Bonmarché 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,” said Tony Wright from FRP Advisory.
“There is every sign that we can continue trading while we market Bonmarché for sale and believe that there will be interest to take on the business.”