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Bonmarche deal in process

It has emerged that Peacocks is being tipped to acquire most of the assets of Bonmarche from administrators FRP Advisory. The closure of 30 Bonmarche stores will go ahead by 11th December, as planned, leaving 285 outlets continuing to trade whilst negotiations continue. The stores being closed will result in around 240 jobs being lost in addition to the 25 roles already axed.

A spokesperson for Peacocks said: "We are working very hard to reach a deal that secures the future of the company and the greatest number of jobs. But given the unprecedented pressures the business continues to face, it is also important to recognise this cannot be assured at this time. We will now enter a period of advanced negotiations with the administrator and landlords to find a way forward that provides a sustainable, long-term future for the business."

Joint administrator Tony Wright of FRP Advisory said: "Whilst we are optimistic that a transaction can be completed, ultimately it will depend on ongoing negotiations between our preferred bidder and landlords on market rents and there remains a risk that the business could cease to trade."

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