Wrexham’s Bank Fashion To Close Next Month

Wrexham’s Bank clothing store has been announced as one of 20 stores across the country that will be closed.

The fashion retailer which operates 84 stores and employs 1,555 staff nationally, fell into administration last month. Uncertainty has surrounded the company’s future ever since, however the search is still on to find a buyer for the business.

The Wrexham branch on Eagles Meadow will close on March 1st – the Chester store is also due to close later this month

The remaining 64 stores across the country and the website will continue operating.

Accountancy firm Deloitte were appointed as administrators of Bank Fashion just six weeks after the chain was sold to a subsidiary of Hilco, a specialist retail investor.

A statement released last month by Deloitte partner and joint administrator Bill Dawson said: “Bank has struggled in a highly competitive segment of the retail industry and has been loss-making for a number of years.

“A review of the business has determined that a solvent turnaround would not be possible and so its director has sought the appointment of Joint Administrators.”