×
2 411
Fashion Jobs
REISS
Business Applications – Support Analyst
Permanent · LONDON
VF INTERNATIONAL
dc Inventory Team Leader
Permanent · COALVILLE
VF INTERNATIONAL
dc Training Specialist
Permanent · COALVILLE
VF INTERNATIONAL
Warehouse Area Manager
Permanent · COALVILLE
VF INTERNATIONAL
dc Team Leader
Permanent · COALVILLE
HEAD OFFICE
Category Strategy Manager
Permanent · BRACKNELL
AUTUMNPAPER LIMITED
Alexander Mcqueen Vip & Kol Manager
Permanent · LONDON
ESTEE LAUDER
Clinique - Consultant - Boots, Bluewater - 22.5 Hours, 3 Days - Part Time, Permanent
Permanent · Dartford
ESTEE LAUDER
Clinique - Consultant - Boots, Bluewater - 15 Hours, 2 Days - Part Time, Permanent
Permanent · Dartford
JOHN LEWIS
Loss Prevention Partner
Permanent · CHELMSFORD
BOOHOO GROUP
Senior Commercial Finance Analyst
Permanent · MANCHESTER
BOOHOOMAN
Senior Marketing Manager
Permanent · MANCHESTER
BOOHOO
Paid Search Manager
Permanent · MANCHESTER
DEBENHAMS
Marketplace Business Development Manager
Permanent · LONDON
DEBENHAMS
Marketplace Account Manager
Permanent · LONDON
DEBENHAMS
Marketplace Business Development Assistant
Permanent · LONDON
REISS
Buying Admin Assistant - Graduate Opportunity
Permanent · LONDON
HOMESENSE
Loss Prevention Officer - Full Time Tkmaxx/Homsesense Basingstoke
Permanent · Basingstoke
VIVIENNE WESTWOOD
Warehouse Operative
Permanent ·
VIVIENNE WESTWOOD
Legal Counsel
Permanent · LONDON
VIVIENNE WESTWOOD
Buying Admin Assistant
Permanent · LONDON
ESTEE LAUDER
Tom Ford - Assistant Business Manager - Selfridges, London - 37.5 Hours - Full Time, Permanent
Permanent · London
Ads
Published
Jul 2, 2019
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Bonmarché management sells shares to Philip Day

Published
Jul 2, 2019

One of Bonmarché’s biggest shareholders accused management of “throwing in the towel” in recent days after recommending a low takeover offer that it had previously rebuffed. And that criticism seems justified on Tuesday with news that the senior executive team have all sold their stakes in the company to Philip Day’s Spectre Holdings.


Bonmarché


Chief executive Helen Connolly, finance director Stephen Alldridge and senior independent non-executive director Isobel Macpherson have sold their stakes to the retailer’s majority owner just a few weeks after advising shareholders that the £5.7 million offer was too low, and a few days after changing their minds due to ongoing weak trading.

The sale comes after news that the company's third largest shareholder, Cavendish Asset Management, had sold its almost-11% stake to Spectre for £0.6 million.

The management holdings don't add up to quite as much with Connolly’s amounting to less than £5,000 and Alldridge generating almost £60,000.

But it all puts Day closer to his goal of achieving a 75% stake in the company, at which point he will be able to delist it. It's believed that he now owns around 67% and the deadline for the end of the offer is looming.

Day, who owns Edinburgh Woollen Mill, Peacocks, Jaeger and Austin Reed among other businesses, acquired a 52.4% chunk of Bonmarché shares several months ago with the purchase triggering a mandatory takeover bid.

Copyright © 2022 FashionNetwork.com All rights reserved.