The confusion surrounding the fate of Bonmarché in the recent rescue deal has finally been cleared up. It has been confirmed that Bonmarché has also been sold to Purepay Retail, a company linked to former owner Philip Day and an international investor consortium. This sale has resulted in the rescue of 531 jobs and 72 stores, although a larger number of stores (148) have been excluded from the deal.

The appointment of Damian Webb and Gordon Thomson from the accountancy firm RSM as Joint Administrators to Bonmarché on November 30, 2020, paved the way for this sale. Purepay, as a secured creditor to the Bonmarché business, has acquired all the remaining stock, along with the head office site and distribution center located in Wakefield. Purepay will operate the 72 stores under license, and 387 store staff will be transferred to the company. Furthermore, all 51 head office and 93 distribution center staff will also be transferred to Purepay.

As of now, the 148 remaining stores are closed in accordance with the UK lockdown measures. Plans are currently under review for these sites in anticipation of the lifting of the lockdown. The staff at these stores are currently on furlough. Damian Webb, Joint Administrator and Partner at RSM Restructuring Advisory, emphasized that the sale of Bonmarché protects the core business and that their primary focus is now on safeguarding the remaining stores and preserving the jobs of the associated employees.

Overall, the sale of Bonmarché to Purepay Retail brings some stability and hope for the future. While a significant number of stores were not included in the deal, the rescued stores and jobs provide a glimmer of optimism for those involved. The company now faces the challenge of navigating the current lockdown restrictions and formulating plans for the future.

Links:
– For more information about Bonmarché and its products, you can visit the official website here.
– To stay updated with the latest news and developments in the retail industry, you can visit a reliable news source such as Retail Gazette here.