Bonmarché chief executive Helen Connolly has resigned from the struggling business, Drapers can reveal.
The former director of buying womenswear and lingerie at Asda stepped down from her position on 9 December.
The retailer fell into administration in October and business advisory firm FRP Advisory was appointed as administrator.
In November, it was revealed that EWM-owned value retailer Peacocks was the preferred bidder for Bonmarché. It came after Day’s investment vehicle Spectre bought a majority share of the business in April, triggering a mandatory takeover bid.
At the time, the administrator said it would result in the closure of 30 “underperforming and unsustainable” Bonmarché stores by 11 December. So far 14 of those have closed, while 301 stores remain open.
Drapers understands a deal is not expected to be completed until after Christmas.