Savills appointed to sell Bank stores

Monday, 12 January 2015

Bank Fashion’s joint administrators William Dawson, Daniel Smith and Paul Meadows of Deloitte, have appointed Savills to advise on selling the retail chain’s store portfolio.

The fashion chain, which is headquartered in Bury and operates 84 stores across the UK, brought in administrators last week putting 1550 jobs at risk following a number of “loss-making” years in the highly competitive young fashion sector.

Sam Foyle, director of retail at Savills said: “This portfolio includes stores in a number of strong retail locations and we are working with the joint administrators to explore the best options for the business. We have already been approached by a number of parties with expressions of interest.”

It has been reported that the Little Mistress Group is one of those parties that has expressed interest in Bank’s store portfolio, with the group looking to take up around 25 of its city centre and town locations in places such as Manchester and Liverpool.