Thursday, 08 April 2021 00:13

Jobs saved in Wiltshire after Peacocks retail stores rescue Featured

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JOBS have been saved in Wiltshire after fashion chain Peacocks, which has three stores in Chippenham, Trowbridge and Warminster, was rescued from receivership.

A former senior executive has acquired the business five months after it crashed into administration.

The buyer has rescued the chain, saving 200 stores and 2,000 jobs nationwide, with backing from a consortium of international investors.

The high street retailer was once owned by Philip Day’s Edinburgh Woollen Mill (EWM) group. It is the last of the fashion empire to be saved following Marks & Spencer's acquisition of Jaeger earlier this year.

The new owner will pick up the £70 million owed to unsecured creditors including suppliers and landlords.

Edinburgh Woollen Mill, Ponden Home and Bonmarche, which has a store in Trowbridge, were rescued from administration in early January, in a complex deal with investment consortium Purepay Retail.

Read this article on the Gazette and Herald here...

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