Deathwatch: Bank go into administration
Bank, the fashion vendor, has gone into administration, which puts over 1,500 jobs in jeopardy. Deloitte have been appointed the administrators, and their Bill Dawson said: "A review of the business has determined that a solvent turnaround would not be possible."
The chain has been losing money for a number of years now, and a number of other firms are sniffing around the company and their 84 stores.
Bill continued: "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."
However, as yet, there's been no redundancies made and all the shops, for the time being, will be staying open.
Staff are still being paid too, which is nice, but lacking the requisite drama we need for this article. Basically, it isn't nearly as miserable as other companies going into administration, but there's time yet.
We'll keep tabs on things, just in case anything exciting happens.