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| Version 2 | Version 3 |
|---|---|
| Bank fashion chain in administration | Bank fashion chain in administration |
| (35 minutes later) | |
| High Street fashion chain Bank has fallen into administration, putting 1,500 jobs at risk. | High Street fashion chain Bank has fallen into administration, putting 1,500 jobs at risk. |
| "A review of the business has determined that a solvent turnaround would not be possible," said Bill Dawson from Deloitte, which has been appointed as administrator. | "A review of the business has determined that a solvent turnaround would not be possible," said Bill Dawson from Deloitte, which has been appointed as administrator. |
| The chain, which has 84 stores and 1,555 employees, has been loss-making for a number of years, Mr Dawson said. | The chain, which has 84 stores and 1,555 employees, has been loss-making for a number of years, Mr Dawson said. |
| It was sold by JD Sports to investment firm Hilco Capital in November. | It was sold by JD Sports to investment firm Hilco Capital in November. |
| Bill Dawson, joint administrator at Deloitte, said the company had already been approached by several parties who had expressed an interest in the business. | Bill Dawson, joint administrator at Deloitte, said the company had already been approached by several parties who had expressed an interest in the business. |
| "The administrators are trading as a going concern with a view to progressing these options and seeking further interested parties for some or all of the business," he added. | "The administrators are trading as a going concern with a view to progressing these options and seeking further interested parties for some or all of the business," he added. |
| Deloitte said all stores were open as usual and staff had been paid and no redundancies had been made. | Deloitte said all stores were open as usual and staff had been paid and no redundancies had been made. |
| Bank was founded by Andy Scott - a former Macclesfield Town footballer - in 1994, and focuses on branded fashion items aimed at the youth market. | Bank was founded by Andy Scott - a former Macclesfield Town footballer - in 1994, and focuses on branded fashion items aimed at the youth market. |
| It is based in Bury in Greater Manchester. | It is based in Bury in Greater Manchester. |
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