Deathwatch/Lazaruswatch: Peacocks saved, but at a price

22 February 2012

retail deathwatch It’s the end of a saga that has dragged on for weeks but there’s some good news for Peacocks, the fashion retailer that was plunged into administration recently. The chain has been bought by Edinburgh Woollen Mill, meaning that a complete closure has been averted.

But it’s not all good news. Even though Peacocks won’t be liquidated, there will still be cuts, with 224 stores closing, and 3,100 redundancies across the chain. BUT, the buyout means that 388 stores will be saved, with 6,000 staff saved from the ever-lengthening dole queue.

Chris Laverty, at administrator KPMG said: “Today’s deal ensures the continued trading of a well known name on the high street.” Amen to that.

3 comments

  • Cheesey
    So will Peacocks change from a mildly fashionable outfitter to a full on Aran sweater shop servicing the blue rinse brigade?
  • Mike H.
    “Today’s deal ensures the continued trading of a well known name on the high street.” That you can't remember the name of, Chris?
  • stevo
    Why did Edingburgh Woolen Mill even bother?? unless they sort out the crappy quality of garments & the design/ fashion of them too, then unfortunately they will be down the toilet soon. btw I just got the Mike Hock name joke.. its like Mike Hunt.. lol

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