What you had to say about Bonmarche's collapse into administration as chain becomes another victim of the high street crisis
Popular high street retailer Bonmarche confirmed on Friday, October 18, that the business had collapsed into administration putting thousands of jobs at risk.
It holds 318 stores across the country and has shops in Sunderland’s Market Square and at Dalton Park.
Despite the news, all currently remain open and no redundancies have been made at this time.
The firm has claimed that it will trade with no immediate job losses but that it will now assess options to secure the company’s future.
This is the second time that the brand has fallen into administration in seven years as it struggles with rising costs and lack of custom from high street shoppers.
In 2012, it was bought in a rescue deal by private equity firm Sun European Partners.
The company was floated on the London stock exchange and retail tycoon Philip Day purchased a majority stake in 2019.
A large number of shareholders sold their stakes to Mr Day, leaving him with 95% ownership.
Reacting to the news, many Sunderland residents expressed their disappointment at the prospect of losing yet another high street store.
Commenting on the Echo’s Facebook page, resident Jan Foley said: “Such a shame, most of their clothing is for the older generation and to be honest there isn't much choice for them either here or in Newcastle.
“Another retail outlet closing means that more people become unemployed.”
Brenda Yarnell Meadows added: “Nice shop such a shame.”
Elaine Bolam said: “Best store in the high street, hope they find a way out.
“They get everything right for the shorter in height person. Saddened.”
Jackie Alexander commented: “What stores will be left I wonder, so very sad.”
Pat Douglas added: “Feel sorry for the older generation they will have nowhere to shop and most older people do not shop online! So sad.”
Angela Eastwood wrote: “Such a shame, how times haves changed – now you have online shopping and more choices .”