Private equity-backed clothing retailer Bonmarché plans to float a stake of at least 40 per cent on the Alternative Investment Market of the London Stock Exchange.
The company, which is focused on clothing for women of over 50 years old, currently operates 264 stores and has around 6.5m customers.
Bonmarché was acquired by private equity firm Sun European Partners in January 2012 and has since experienced a turnaround in performance.
The IPO is expected to take place next month, Bonmarché said in a statement.
Bonmarché CEO 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.
“We are confident that our competitive position and loyal customer base means that we are well placed to capitalise on this attractive and fast growing niche of the retail sector.
“We have identified a number of opportunities to expand our retail offering through enhancing our product range, developing our store portfolio and optimising our multi-channel offering, providing a positive customer shopping experience and business growth.”
Sun European Partners bought Bonmarché in a pre-pack administration deal from KPMG in January 2012.
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