The owners of Bank Fashion, Hilco, have put the firm into administration, putting 1,555 jobs at risk. The loss-making chain, which was previously part of the JD Sports group, has 84 stores, which will continue to trade as usual with no redundancies at the present time whilst administrators at Deloitte try to find a new owner for the company. It is understood that Deloitte has already received expressions of interest in the firm.

At the time Bank was sold to Hilco in November, JD Sports said that the business had made a loss before tax of £8.1 million in the year to February 2014.