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Thousands of shops not reopening across England today
bristolpost.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bristolpost.co.uk Daily Mail and Mail on Sunday newspapers.
Thousands of shops not reopening across England today
somersetlive.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from somersetlive.co.uk Daily Mail and Mail on Sunday newspapers.
Peacocks has been bought out of administration by chief operating officer Steve Simpson. The announcement will see Mr Simpson take over the business, saving 200 stores, which he hopes to reopen once lockdown restrictions ease. There are several stores across south west London which include Merton and Sutton. The chain was part of retail mogul Philip Day’s Edinburgh Woollen Mill (EWM) fashion empire which collapsed in November last year. Mr Day was the biggest creditor of Peacocks and is owed money by the business he once owned. Stock Administrators FRP negotiated a deal with him by signing a deferred loan agreement between a consortium of investors and the businessman which will eventually see him get his money out of the company.
Peacocks chain saved – but future of Kendal store remains uncertain
thewestmorlandgazette.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thewestmorlandgazette.co.uk Daily Mail and Mail on Sunday newspapers.
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.