Global legal business DWF have advised Damian Webb and Gordon Thomson of RSM Restructuring Advisory, the administrators of BM Retail Limited, on the sale of high street retailer Bonmarché.
The sale of Bonmarché's business to Purepay Retail Limited included the business and assets of Bonmarché. Purepay Retail's acquisition of Bonmarché from administrators RSM included 72 Bonmarché stores and will see over 500 employees transfer to the acquirer. Bonmarché suffered financial difficulties, as a result of an increasingly distressed retail market, that were deepened further by the impact of COVID-19 and multiple lockdowns and tier system.
Restructuring Partners, Natasha Atkinson and James Moore led the deal, with the team including Rachel Lawler (Partner, Real Estate), Sarah Keonig (Senior Associate, Real Estate), Iain MacLean (Partner, Real Estate), Joanne Witheford (Senior Associate, Transport), Joanne Frew (Partner, Employment) and Samantha Francis (Solicitor, Banking & Business Restructuring).
Natasha Atkinson, Partner at DWF, commented: "We are delighted to have advised RSM on the sale at a difficult time which enhances its position in the highly competitive retail market and which will also secure the continued employment of hundreds of people."