Sun European Partners buys Bonmarche

Bonmarché the clothes retailer has been bought out of administration by private equity firm Sun European Partners. The sum is undisclosed.

The deal for the Wakefield-based subsidiary of Peacocks is reported to save more than 2,000 jobs.

John Gallon, corporate partner at DLA Piper’s, which advised on the deal, reportedly said: “There have been a number of reported casualties on the UK high street in recent weeks. However, despite the on-going challenges faced by the retail sector, we brought this deal to a close quickly and effectively to ensure that BonmarchĂ© is in a position to continue operating.

The existing management team of Bonmarche will continue to take the company forward.