Over 1,500 jobs at risk after fashion chain Bank collapses
FASHION retailer Bank went into administration yesterday with 1,550 jobs now at risk.
The firm has 84 outlets across England and Wales.
In November the struggling company was sold by JD Sports Fashion to restructuring company Hilco Capital. Financial services firm Deloitte has been appointed as administrator.
“Bank has struggled in a highly competitive segment of the retail industry and has been loss-making for a number of years,” said Bill Dawson, a partner at Deloitte.
However, jobs may be saved by a potential takeover.
“The company has already been approached by several parties who have expressed an interest in the business and the administrators are trading as a going concern with a view to progressing these options and seeking further interested parties for some or all of the business,” Dawson said.