Bonmarche – the women’s fashion chain which caters to the over-50s – is planning to go public on the stock market. Upon announcing its intentions, Bonmarche cited figures gathered by the Office for National Statistics and retail specialists Verdict, which predict that the number of women over the age of 55 – its target demographic – would be 16 per cent higher in 2018 than in 2008.
Less than two years after Bonmarche fell into administration, it’s thought its new owners could be considering an initial public offering for the retailer. Sun European Partners, who bought Bonmarche out of pre-pack administration in early 2012, is now reported by Sky News to have appointed Investec to oversee a market debut for the retailer.
A number of high street retailers have been linked to the companies operating within the Bangladeshi building that collapsed on Wednesday, tragically killing at least 161 people and injuring over 800 others. The eight-story building, Rana Plaza, which housed four garment units, a bank branch and around 300 shops reportedly came crashing down during the early morning rush hour in Savar.
Thousands of workers at the struggling fashion retailer have been given new hope after it emerged Pakistani billionaire Alshair Fiyaz is working on a rescue bid for the chain. Fiyaz has reportedly teamed up with Danish investment fun Solstra Capital to work on a second-round bid for the group, which is expected on Tuesday.
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