Warning Of Store Closures
Written by HFM News on 3rd April 2019
Bonmarche in St Mary’s Place
The billionaire who has bought a controlling stake in struggling retailer Bonmarche is warning of ‘material’ job losses.
Philip Day, who also owns Edinburgh Woollen Mill and Peacocks, now has a 52% stake in the womenswear chain, and says under-performing stores could close.
Bonmarche has more than 300 shops across the UK, including one in Market Harborough’s St Mary’s Place, employing 1,900 people.
The new owner will seek to take the company into private ownership and de-list it from the stock market, and carry out a detailed review including pricing, the viability of stores, the supply chain and products and the management of the business.
Boots in St Mary’s Place
Meanwhile, Boots is warning about possible UK store closures saying it’s had the “most difficult” quarter in the group’s history.
The owner of the retail chain – which also has a store in St Mary’s Place, is reviewing its near 2,500 branches.
It’s looking at poor performing shops as well what it’s calling “opportunities for consolidation”.
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