Inglis named as future boss of Bonmarche, if sale goes ahead
Sunday 26 June 2011
Private equity group Duke Street has lined up a new chief executive for Bonmarche should it complete the purchase of the discount fashion chain.
David Inglis, the potential head, is the former boss of Henleys Clothing and is working as a consultant at Duke Street on the potential purchase of 390 store-strong Bonmarche.
Owner Peacock Group, which also runs the 570-shop fashion retailer Peacocks, hired DC Advisory Partners in March to look at options for Bonmarche. Duke Street is now in exclusive talks about acquiring the chain, which sells clothes for women aged over 45.
The Peacocks chain – which is backed by the hedge funds Och Ziff and Perry Capital – has been in the spotlight as it hired Allan Leighton, the former chief executive of Asda, as chairman last month.
Peacock Group bought Bonmarche for more than £50m in 2002, when the chain had far fewer stores and it has grown significantly since then.
On his LinkedIn profile, Mr Inglis describes himself as a "consultant at Duke Street Capital" and says he is "working on the acquisition of a High Street clothing retailer".
Mr Inglis was chief executive of Henleys for 10 months but left earlier this year after the company put its retail subsidiary into administration.
For the year to 3 April 2010, the Peacock Group grew pre-tax profits by 49 per cent to £39.4m on sales up 7.6 per cent to £526.7m.
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