Bonmarche bought out but jobs still at risk

CLOTHING chain Bonmarche has been bought by a private equity group but jobs at the Wisbech store could still be at risk.

Sun European Partners purchased the chain, with the exception of three stores in London’s Balham, St Albans and Perth, but has said it will be closing about 160 stores. It is not yet known which stores this will affect.

Bonmarche is part of the Peacocks Group which went into administration last week.

Sun has bought Bonmarche out of administration in a pre-pack deal. This is where the sale of an insolvent company’s assets is arranged before the formal insolvency process is completed.

It is understood that numerous private equity firms, including Sun and Edinburgh Woollen Mill, are interested in buying the Peacocks chain, while Tesco is reported to be interested in some stores.

Private equity firm Op Capita, which is in the process of buying Comet from Kesa Electricals, is also expected to assess Peacocks’ potential.