Sale of Bonmarche Completes Rescue of Philip Day’s Retail Empire

U.K. retail tycoon Philip Day and EWM Group’s insolvency administrators sold the final part of his retail empire saving 531 jobs and 72 stores, according to an emailed statement from administrators at RSM Restructuring Advisory.

• Day, as the company’s main secured creditor, has taken control of Bonmarche, a value retail brand, and sold it to an international consortium of investors: statement
• The deal includes Bonmarche’s stock, the company’s head office and distribution center, and 72 stores
• 148 stores will close meaning not all jobs have been saved
• NOTE: Jan. 12: The Edinburgh Woollen Mill and Ponden Home retail brands ...