Mon, 23 Jan 2012 | ADMINISTRATION
Sun European Group has bought the troubled Bonmarche fashion retailer in a pre-pack administration deal for an undisclosed amount.
Private equity group Sun will run 230 stores and close about 160, which will lead to 1,400 redundancies across the chain.
Three stores were omitted from the deal, one in Balham, London, another in St Albans in Hertfordshire and the third in Perth, which was deemed not commercially viable. The stores’ 19 staff are to be made redundant.
Chris Laverty, joint administrator at KPMG told the BBC: “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 Bonmarche’s future,” he added.
Sun’s vice-president Matthias Gundlach commented on the acquisition: “Bonmarche is a great brand that operates in an attractive niche of the apparel sector that we know very well.”
Separately, Sun European is interested in purchasing the Peacocks retailer, which entered administration last week. The administrators at KPMG will open a ‘data room’ to enable potential buyers to look over Peacocks' finances before the bidding deadline of 30 January.
An active retail business investor, Sun European has also bought Jacques Vert and Alexon recently.
Peacocks' administrators contact info
Previous stories on Bonmarche
Offers permanent and temporary placements to candidates operating within the accountancy and financial sectors. Maintains long-term relationships with its clients, acting as a trusted advisor to provide impartial and effective support throughout the...
LEASEHOLD
Provides a comprehensive consultancy service within the building industry. Works with major BEMS systems manufacturers and suppliers and has extensive in-house knowledge. Offers invited.
LEASEHOLD
Strong second-tier management team in place, able to manage the day-today operations of the business. Serves 200 active clients in the healthcare, veterinary and life science sectors - with some long-standing client relationships in place since incep...
LEASEHOLD
|
13
|
|
Dec
|
Gateley acquires T-three | BUSINESS SALE
Commercial law and professional services firm Gateley has ac...
|
12
|
|
Dec
|
Appello acquires Mevivo Careline | BUSINESS SALE
Living solutions provider Appello has acquired telecare and ...
|
11
|
|
Dec
|
PiggyBank owner enters administration | ADMINISTRATION
DJS Limited, the parent company of payday lender PiggyBank, ...
Sign up to receive our acquisition alert emails to get your FREE guide
|
28
|
|
Nov
|
Peacocks to rescue Bonmarche | BUSINESS SALE
Peacocks has agreed a deal with administrators to rescue riv...
|
20
|
|
Feb
|
Electronics specialist Maplin searches for buyer | BUSINESS SALE
Electronics retailer Maplin is reportedly in crisis talks wi...
|
03
|
|
Jan
|
Sun European buys UK packaging businesses | BUSINESS SALE
Two packaging companies have been bought by Sun European Par...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources