COLLAPSED fashion chain Peacocks has been saved by a senior executive with backing from an international consortium, it has been announced. Chief operating officer Steve Simpson will take over the business, saving 2,000 jobs and 200 stores, which he hopes to reopen once lockdown restrictions on non-essential retailers ease. Peacocks has branches at New River Retail Park at Five Lane Ends in Bradford, the Airedale Shopping Centre in Keighley, and the Northgate Retail Centre, in Heckmondwike. 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.
Jobs saved in Peacocks rescue deal
A buyout by a senior executive will save around 2,000 jobs at the collapsed fashion chain
6 April 2021 • 10:52am
Collapsed fashion chain Peacocks has been saved by a senior executive with backing from an international consortium, it has been announced.
Chief operating officer Steve Simpson will take over the business, saving 2,000 jobs and 200 stores, which he hopes to reopen once lockdown restrictions on non-essential retailers ease.
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.
COLLAPSED fashion chain Peacocks has been saved by a senior executive with backing from an international consortium, it has been announced. Chief operating officer Steve Simpson will take over the business, saving 2,000 jobs and 200 stores, which he hopes to reopen once lockdown restrictions on non-essential retailers ease. The chain, which has a store in Denbigh, 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. 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 stores and 2,000 jobs to be saved after fashion chain bought out of administration
The chain was part of retail mogul Philip Day s Edinburgh Woollen Mill (EWM) fashion empire which collapsed in November last year
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