The collapsed fashion chain Peacocks – which has a store in Burnham-On-Sea – has been bought out of administration, a move that includes transferring 2,000 jobs and 200 shops.
Last October, we reported here that the Burnham-On-Sea High Street store had started a ‘closing down sale’, but it remained open before the lockdown restrictions were introduced.
This week’s announcement raises hopes that the Burnham store and jobs may be permanently saved from closure.
Peacocks was previously owned by Edinburgh Woollen Mills (EWM). The buyers are an international consortium, led by Peacocks’ former chief operating officer, Steve Simpson, who hopes to reopen the stores once non-essential retailers are allowed out of lockdown.