Bonmarché set to delist as second-largest shareholder sells up
Bonmarché is on track to be taken private after Philip Day convinced the retailer’s last major investors to sell its stake.
Investment fund Artemis offloaded its 12% stake in the embattled high street fashion chain yesterday to Day’s Dubai-based holding company Spectre.
The sale brings Day’s total stake in Bonmarché to more than 82%, above the 75% needed to take the business private.
At the beginning of July, another institutional investor, Cavendish Asset Management, sold its 10.8% stake to Day for £600,000.
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