Sun pre-packs Bonmarché
Sun European Partners has bought the Bonmarché clothing chain, formerly owned by Peacocks, in a pre-pack deal for a reported figure of £10m.
- Published 25 January 2012 in Top Story.
Sun European Partners has bought the Bonmarché clothing chain, formerly owned by Peacocks, in a pre-pack deal for a reported figure of £10m (€12m).
The private equity firm, which had been sizing up the chain for some time, will keep around 230 of Bonmarché's 394 stores, saving around 2,400 of the 4,000 jobs on the line.
The pre-pack deal will cancel the debt of Bonmarché, which specialises in clothing for women over 45. Existing pension schemes for Bonmarche's employees are thought to have been protected.
"Bonmarché is a great brand that operates in an attractive niche of the apparel sector that we know very well," said Matthias Gundlach, vice-president of Sun European. "We are confident in putting a sustainable growth programme in place and working with the management team to develop the business successfully."
Sun is also thought to be interested in ailing parent Peacocks, which collapsed into administration last week.