Retail gloom forces Bonmarche to give nod to Philip Day’s discounted offer
The fashion retailer had previously rejected the billionaire’s buyout plan
26 June 2019 - 18:02
Bengaluru — Trading has been so poor in recent months that women’s fashion chain Bonmarche recommended shareholders accept British billionaire Philip Day’s buyout offer on Wednesday, two months after dismissing it as “inadequate”.
Official data last week showed cold weather in May prompted the biggest drop in retail sales in 2019, with the wet weather in June continuing to hurt many retailers...
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