LONDON (Reuters) - British clothing retailer Bon Marche says it has put itself under the supervision of a financial insolvency practitioner, after years of hard struggle in the market.
According to Bloomberg, the company blamed the ambiguity surrounding Brexit, which dealt a blow to its activities.
Bon Marche commissioned the consultancy firm FRP to look at options for the 2,900-strong company that specializes in women's clothing over the fifth decade. The company continues to manage its 300 branches.
"The delay in the Brexit has led to the emergence of many disadvantages in global markets towards Britain and has shattered consumer confidence," Chief Executive Helen Connolly said in a statement.
Bon Marche said it had rejected options such as the so-called "voluntary management" of the company as it could not guarantee that the company would continue at full capacity as a working facility.
Connolly said the company would agree with FRP Consulting to protect the largest number of jobs and find a buyer.