Philip Day’s Spectre Holdings has unconditionally acquired 52 per cent of the shares in Bonmarche from BM Holdings S.A.R.L. for a consideration of £3 million and is expected to make a further offer to other shareholders in order to takeover the womenswear retailer This would, it is understood, result in a total acquisition value of £5.73 million.
Spectre stated; “As a result of its review, and based purely on publicly available information, Spectre expects a material reduction in headcount across Bonmarche. Those stores identified as under-performing may be closed unless reduced rents, staff reductions or other cost-saving measures can be successfully implemented.”
Bonmarche would sit alongside other brands operated by the acquiring group. These include Edinburgh Woollen Mill, Peacocks, Country Casuals, Jaeger as well as Jacques Vert and Austin Reed.
There are currently more than 300 UK Bonmarche stores and concessions. It is Spectre’s intention to work with the board and management of Bonmarche to ensure the brand’s long term future
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