National retailer Bonmarché could be rescued by rival Peacocks, after they were named the ‘prefered bidder’ for the business.
Bonmarché fell into administration in October and further negotiations are set to take place over the next few weeks.
30 Bonmarché stores will close by 11 December which has put more than 240 jobs at risk. Bonmarché’s 285 remaining stores will continue to trade across the country, however, they will likely be rebranded as Peacocks stores.
A spokesperson for Peacocks said: “We are working very hard to reach a deal that secures the future of the company and the greatest number of jobs. But given the unprecedented pressures the business continues to face, it is also important to recognise this cannot be assured at this time.
“We will now enter a period of advanced negotiations with the administrator and landlords to find a way forward that provides a sustainable, long-term future for the business.”