Collapse of fashion chain Bank puts 200 retail jobs at risk

More than 200 Scottish retail jobs are at risk after loss-making fashion chain Bank entered administration.

Restructuring specialist Deloitte was appointed to run the firm’s affairs on January 5 after a solvent turnaround was deemed impossible.

The company employs more than 1,500 staff across an 84-store estate.

It operates 13 shops in Scotland, including one in Dundee’s Overgate centre.

Deloitte said all stores will continue to trade as normal while potential interest in the business from several parties is examined.

No redundancies have been made.

“Bank has struggled in a highly competitive segment of the retail industry and has been loss-making for a number of years,” said Bill Dawson, a partner in Deloitte’s restructuring services practice.

“The company has already been approached by several parties who have expressed an interest in the business and the administrators are trading as a going concern with a view to progressing these options and seeking further interested parties for some or all of the business.”