Philip Day may have bought control of Bonmarché but his attempt to buy the rest of the firm and take it private could be in jeopardy with the board saying on Friday that his 11.445p per share offer isn’t enough.
Billionaire Philip Day is now in control of struggling Bonmarché after buying a 52% stake in the distressed retailer. The Peacocks and Jaeger owner will launch a bid for the remaining 48%, along with a business review.
Budget fashion retailer Bonmarché issued a trading update on Friday and while its previous downbeat update had only been released last month, at least this one was a slightly - very slightly - more cheerful read.
Another day, another profit warning. This time it was budget fashion retailer Bonmarché Holdings serving up bad news with the firm saying its Black Friday trading figures were “extremely poor, particularly in stores”.
Bonmarché put out a patchy set of half-year results Tuesday with bad news mixed in among the good to prove that the value/35-plus end of the market isn’t immune to the havoc being seen elsewhere in the sector.
Bonmarché had mixed news on Thursday as it latest trading update showed that online sales continue to boom but like-for-like sales in stores remain weak. However, the company is upbeat and is seeing signs of progress.