Struggling retailer Bonmarche is set to be taken over by billionaire Philip Day in a deal valuing the clothing chain at just £5.7 million. Struggling retailer Bonmarche is set to be taken over by billionaire Philip Day in a deal valuing the clothing chain at just £5.7 million. Acting through holding company Spectre, the businessman bought more than 26 million shares, representing 52.4% of the company. “The owner of Spectre, Philip Day, has a successful track record within the retail sector, especially in turnaround and distressed situations.”Mr Day’s name has been linked with several retail turnarounds. It rejoins its former sister company Jane Norman which Day saved several years ago and continues to trade.

Source: Irish Independent April 02, 2019 07:41 UTC