Job fears at Sunderland store as Bank Fashion goes into administration

Shoppers in The Bridges
Shoppers in The Bridges
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JOBS are at risk at a Sunderland clothing store after national chain Bank Fashion went into administration.

The high street fashion chain – which has a branch in The Bridges in Sunderland – announced last night it was calling in the administrators, putting 1,500 jobs at risk nationally

Bill Dawson from Deloitte, which has been appointed as administrator, said: “A review of the business has determined that a solvent turnaround would not be possible.”

Mr Dawson said the 84-chain store had been making a loss for a number of years.

He said the company had already been approached by several parties who had expressed an interest in the business.

“The administrators are trading as a going concern with a view to progressing these options and seeking further interested parties for some or all of the business,” he said.

Deloitte said all stores were open as usual and staff had been paid and no redundancies had been made.

Bank was founded by Andy Scott, a former Macclesfield Town footballer, in 1994, and focuses on branded fashion clothing aimed at the youth market.

It is based in Bury in Greater Manchester.