Womenswear retailer Bonmarché has entered administration, resulting in around 2,900 jobs being placed at risk including 200 at its head office.
With 318 branches located around the UK, Bonmarché appointed FRP Advisory as administrators who said the brand had a “sustained period of challenging trading conditions.”
Alastair Massey, Tony Wright and Phil Pierce, of FRP, were appointed as joint administrators for Bonmarché on Friday.
Tony Wright, joint administrator and partner at FRP Advisory, said: “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.
“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.”
Earlier this year, Bonmarche was taken over by Phillip Day, owner of the Edinburgh Woollen Mill Group who made an offer of £5.7m.
The chain had been reported to be recently struggling with rising costs, such as rising wages and business rates, as well as dwindling footfall on UK high streets.