Another store bites the dust

High street retailer Bonmarché has collapsed into administration – putting almost 2,900 jobs at risk.

The retailer, which has a branch on Mill Street in Macclesfield and branches in Crewe, Chester, Warrington and Ellesmere Port, is the latest victim of the downturn in retail which is hitting high streets across the country.

The administrators of the company said it had ‘sustained a period of challenging trading conditions’ prior to its collapse.

The womenswear retailer employs 2,887 staff, including 200 at its head office, and operates 318 stores across the UK.

Tony Wright, Alastair Massey and Phil Pierce, of specialist advisory firm FRP, were appointed as joint administrators for the firm on Friday.

FRP said the company will continue to trade with no immediate job losses, as it assesses options to secure the future of the company.

Mr Wright 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.”

The administrators added that “all stores remain open and no redundancies have been made”.

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