The billionaire owner of Edinburgh Woollen Mill has tabled a £6m takeover offer for Bonmarché, potentially putting hundreds of jobs at risk at the women’s fashion retailer.
Philip Day, 53, yesterday pounced on the chain, snapping up a 52.4% stake and making a mandatory offer for the shares that he does not own. At 11.445p a share, the offer is well below Monday’s closing price of 18p and values Bonmarché at £5.7m.
Day put staff on notice that there would be a “material reduction in headcount across Bonmarché”.
Click here for the full Times article (£)
Click here for the full Telegraph article (£)
Click here for the full Independent article
