The British retail company Bonmarche plans to go public with plans to list shares on plans to list shares on London's Alternative Investment Market (AIM). The company got its start in 1992 was acquired recently in 2012 by an affiliate of Sun European Partners in January 2012 from administrators KPMG after previous owner Peacocks, saddled with 240 million pounds of debt, went into administration.
Bonmarche's is a 264-strong clothing and accessories chain , which caters for women aged over 50. The retailers has a customer database of 6.5 million members, sells from 264 stores, a website, mail order catalogues, a telephone order service and its TV shopping channel.
The company plans to go public offering a minimum of 40 percent of the company's issued share capital to investors in the flotation, and to list on AIM this November.
In a statement the Chief executive Beth Butterwick said: " The success and strong financial performance enjoyed by the business over the last 18 months, coupled with our exciting growth strategy, makes this is an opportune time to bring the company to AIM."
Currently the retailer has about 1,700 staff, with an expected growth close to 20% e in the number of women aged over 55 during the decade to 2018, Bonmarche plans to expand at garden centres across the UK, on cruise ships and also has tie-ups with around 1,000 care homes, where staff hold sales events on the premises.