Bonmarche collapses into administration for the second time in a year putting 1,500 jobs at risk

Womenswear chain Bonmarche has collapsed into administration for the second time in just over a year, putting more than 1,500 jobs at risk. 

RSM Restructuring Advisory, which has been appointed to handle the administration, said all of Bonmarche’s 225 stores will remain open and there are no redundancies yet as it looks to agree a rescue deal. 

It follows Bonmarche plunging into administration in October 2019, before administrators agreed a rescue deal with retailer Peacocks. 

The announcement comes as the latest in a series of blows to the UK’s high street, after both Debenhams and Sir Philip Green’s Arcadia group collapsed this week.

Womenswear retailer Bonmarche has collapsed into administration for the second time in just over a year, putting more than 1,500 jobs under threat

Womenswear retailer Bonmarche has collapsed into administration for the second time in just over a year, putting more than 1,500 jobs under threat

Womenswear retailer Bonmarche has collapsed into administration for the second time in just over a year, putting more than 1,500 jobs under threat

Despite the deal, 30 stores were closed before last Christmas, affecting hundreds of jobs at the group. 

Damian Webb, joint administrator of RSM Restructuring Advisory, said: ‘Bonmarche remains an attractive brand with a loyal customer base. 

‘It is our intention to continue to trade whilst working closely with management to explore the options for the business. 

‘We will shortly be marketing the business for sale, and based on the interest to date we anticipate there will be a number of interested parties.’   

The brand has struggled with rising costs, such as business rates and rising wages, as well as dwindling footfall on UK high streets.

Bonmarche was previously bought in a rescue deal by private equity firm Sun European Partners in 2012. 

It comes after Bonmarche plunged into administration in October 2019, before administrators agreed a rescue deal with retailer Peacocks

It comes after Bonmarche plunged into administration in October 2019, before administrators agreed a rescue deal with retailer Peacocks

It comes after Bonmarche plunged into administration in October 2019, before administrators agreed a rescue deal with retailer Peacocks

The company was later floated on the London stock exchange before retail tycoon Philip Day purchased a majority stake earlier this year.

A large number of shareholders then sold their stakes to Mr Day, giving him a 95 per cent ownership in the struggling retailer. 

Meanwhile, 242-year-old chain Debenhams has cut prices by up to 70 per cent today, ahead of the company’s impending liquidation.

The department store is set to be liquidated by the new year after JD Sports scrapped its proposed rescue deal following the collapse of Arcadia group. 

Arcadia, which owns Topshop, Miss Selfridge, Dorothy Perkins and Burton, tipped into administration, putting 13,000 jobs at risk. 

Debenhams has said it will continue to trade in its 124 shops and online with a fire sale of its stock as the national lockdown ends today, on a shopping day being branded ‘Wild Wednesday’ as all non-essential shops are allowed to open.

How the collapse of Arcadia and Debenhams spells more major job cuts and losses with the total now over 275,000 since the Covid-19 pandemic began

Around 13,000 jobs are at risk after Sir Philip Green’s Arcadia Group edged nearer to appointing administrators after being hit by the impact of the pandemic.

The group, which cut 500 roles earlier in the year, is expected to collapse in the coming days and has lined up insolvency specialists at Deloitte.

It adds to more than 275,000 job losses or potential redundancies announced since the start of the pandemic.

Here is a list of some of the high-profile British employers that have announced major cuts since March 23:

Total: 278,685

  • December 2 – Bonmarche – 1,500 at risk
  • December 1 – Debenhams –  12,000
  • November 27 – Arcadia Group – 13,000 at risk
  • November 26 – Mitchells & Butlers – 1,300
  • November 19 – E.On – 700
  • November 17 – Johnson Service Group – 1,550
  • November 12 – WH Smith – 200
  • November 9 – Reach – 150
  • November 5 – Sainsbury’s – 3,500
  • November 5 – Caterpillar – 700
  • November 4 – John Lewis Partnership – 1,500
  • November 4 – Lloyds – 1,070
  • October 29 – Pizza Express – 1,300
  • October 27 – Revolution Bars – 130
  • October 16 – Pret a Manger – 400
  • October 15 – Marston’s – 2,150
  • October 14 – Gourmet Burger Kitchen – 362
  • October 9 – Edinburgh Woollen Mill – 24,000 at risk
  • October 8 – National Trust – 1,300
  • October 8 – HSS Hire – 300
  • October 7 – Manchester Airport Group – 892
  • October 7 – Greene King – 800
  • October 6 – Virgin Money – 400
  • October 6 – Vp – 150
  • October 5 – Cineworld – 5,500 (many cuts likely to be temporary)
  • September 30 – TSB – 900
  • September 30 – Shell – 9,000 worldwide
  • September 29 – Ferguson – 1,200
  • September 22 – Wetherspoon – 400 to 450
  • September 22 – Whitbread – 6,000
  • September 18 – Investec – 210
  • September 15 – Waitrose – 124
  • September 14 – London City Airport – 239
  • September 9 – Lloyds Bank – 865
  • September 9 – Pizza Hut – 450
  • September 4 – Virgin Atlantic – 1,150
  • September 3 – Costa – 1,650
  • August 27 – Pret a Manger – 2,800 (includes 1,000 announced on July 6)
  • August 26 – Gatwick Airport – 600
  • August 25 – Co-operative Bank – 350
  • August 20 – Alexander Dennis – 650
  • August 18 – Bombardier – 95
  • August 18 – Marks & Spencer – 7,000
  • August 14 – Yo! Sushi – 250
  • August 14 – River Island – 350
  • August 12 – NatWest – 550
  • August 11 – InterContinental Hotels – 650 worldwide
  • August 11 – Debenhams – 2,500
  • August 7 – Evening Standard – 115
  • August 6 – Travelex – 1,300
  • August 6 – Wetherspoons – 110 to 130
  • August 5 – M&Co – 380
  • August 5 – Arsenal FC – 55
  • August 5 – WH Smith – 1,500
  • August 4 – Dixons Carphone – 800
  • August 4 – Pizza Express – 1,100 at risk
  • August 3 – Hays Travel – up to 878
  • August 3 – DW Sports – 1,700 at risk
  • July 31 – Byron – 651
  • July 30 – Pendragon – 1,800
  • July 29 – Waterstones – unknown number of head office roles
  • July 28 – Selfridges – 450
  • July 27 – Oak Furnitureland – 163 at risk
  • July 23 – Dyson – 600 in UK, 300 overseas
  • July 22 – Mears – fewer than 200
  • July 20 – Marks & Spencer – 950 at risk
  • July 17 – Azzurri Group (owns Zizzi and Ask Italian) – up to 1,200
  • July 16 – Genting – 1,642 at risk
  • July 16 – Burberry – 150 in UK, 350 overseas
  • July 15 – Banks Mining – 250 at risk
  • July 15 – Buzz Bingo – 573 at risk 
  • July 14 – Vertu – 345
  • July 14 – DFS – up to 200 at risk
  • July 9 – General Electric – 369
  • July 9 – Eurostar – unknown number
  • July 9 – Boots – 4,000
  • July 9 – John Lewis – 1,300 at risk
  • July 9 – Burger King – 1,600 at risk
  • July 7 – Reach (owns Daily Mirror and Daily Express newspapers) – 550
  • July 6 – Pret a Manger – 1,000 at risk
  • July 2 – Casual Dining Group (owns Bella Italia and Cafe Rouge) – 1,909
  • July 1 – SSP (owns Upper Crust) – 5,000 at risk
  • July 1 – Arcadia (owns TopShop) – 500
  • July 1 – Harrods – 700
  • July 1 – Virgin Money – 300
  • June 30 – Airbus – 1,700
  • June 30 – TM Lewin – 600
  • June 30 – Smiths Group – ‘some job losses’
  • June 25 – Royal Mail – 2,000
  • June 24 – Jet2 – 102
  • June 24 – Swissport – 4,556
  • June 24 – Crest Nicholson – 130
  • June 23 – Shoe Zone – unknown number of jobs in head office
  • June 19 – Aer Lingus – 500
  • June 17 – HSBC – unknown number of jobs in UK, 35,000 worldwide
  • June 15 – Jaguar Land Rover – 1,100
  • June 15 – Travis Perkins – 2,500
  • June 12 – Le Pain Quotidien – 200
  • June 11 – Heathrow – at least 500
  • June 11 – Bombardier – 600
  • June 11 – Johnson Matthey – 2,500
  • June 11 – Centrica – 5,000
  • June 10 – Quiz – 93
  • June 10 – The Restaurant Group (owns Frankie and Benny’s) – 3,000
  • June 10 – Monsoon Accessorize – 545
  • June 10 – Everest Windows – 188
  • June 8 – BP – 10,000 worldwide
  • June 8 – Mulberry – 375
  • June 5 – Victoria’s Secret – 800 at risk
  • June 5 – Bentley – 1,000
  • June 4 – Aston Martin – 500
  • June 4 – Lookers – 1,500
  • May 29 – Belfast International Airport – 45
  • May 28 – Debenhams (in second announcement) – ‘hundreds’ of jobs
  • May 28 – EasyJet – 4,500 worldwide
  • May 26 – McLaren – 1,200
  • May 22 – Carluccio’s – 1,000
  • May 21 – Clarks – 900
  • May 20 – Rolls-Royce – 9,000
  • May 20 – Bovis Homes – unknown number
  • May 19 – Ovo Energy – 2,600
  • May 19 – Antler – 164
  • May 15 – JCB – 950 at risk
  • May 13 – Tui – 8,000 worldwide
  • May 12 – Carnival UK (owns P&O Cruises and Cunard) – 450
  • May 11 – P&O Ferries – 1,100 worldwide
  • May 5 – Virgin Atlantic – 3,150
  • May 1 – Ryanair – 3,000 worldwide
  • April 30 – Oasis Warehouse – 1,800
  • April 29 – WPP – unknown number
  • April 28 – British Airways – 12,000
  • April 23 – Safran Seats – 400
  • April 23 – Meggitt – 1,800 worldwide
  • April 21 – Cath Kidston – 900
  • April 17 – Debenhams – 422
  • March 31 – Laura Ashley – 268
  • March 30 – BrightHouse – 2,400 at risk
  • March 27 – Chiquito – 1,500 at risk
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