What you had to say Bonmache's collapse into administration as store becomes the latest victim of the high street crisis
Northumberland residents have expressed their sadness that Bonmarche has become another victim of the UK’s high street crisis following the store’s announcement that it had fallen into administration.
Popular high street retailer Bonmarche, which had an outlet at Heighley Gate Garden Centre, confirmed on Friday, October 18, that the business had collapsed into administration putting thousands of jobs at risk.
It holds 318 stores across the country and has shops in Morpeth, Cramlington, Berwick and Blyth.
Despite the news, all currently remain open and no redundancies have been made at this time.
The firm has claimed that it will trade with no immediate job losses but that it will now assess options to secure the company’s future.
This is the second time that the brand has fallen into administration in seven years as it struggles with rising costs and lack of custom from high street shoppers.
In 2012, it was bought in a rescue deal by private equity firm Sun European Partners.
The company was floated on the London stock exchange and retail tycoon Philip Day purchased a majority stake in 2019.
A large number of shareholders sold their stakes to Mr Day, leaving him with 95% ownership.
Reacting to the news, many Northumberland residents expressed their disappointment at the prospect of losing yet another high street store.
Carmen Galea said: “What a shame. I love this store.
“So sad for the employees. I hope someone comes and buys it out.”
Jan L'Argent commented: “I'm so sorry for the staff and hope that the stores can be saved.
“Bonmarche has filled a gap for those women in an older age group.
“I really hope that there's a way forward for both staff and customers alike.”
Barbara Woodward said: “Oh no this is dreadful news, I love this shop.”
Peter Guthrie wrote: “Oh no hopefully the staff will be OK.
“It is concerning the amount of shops going into administration.
“In Berwick we have lost so many shops and not only does it make high streets empty ghost towns but also creates more unemployment.”