Peacocks to close 28 North West stores

THE buy-out of the Peacocks chain by Edinbuirgh Woollen Mills from administrators KPMG will lead to 385 redundancies in the North West, with 28 stores closing immediately.

A deal was struck between the joint administrators of Peacocks – Richard Fleming, Chris Laverty, Ed Boyle and Joff Pope – which has saved around 6,000 jobs across the UK.

The Dumfrieshshire-based retailer has taken on the Peacocks brand, its headquarters and 388 stores and concessions. However, some 224 stores have not been taken on and are now set for closure. A list of the North West stores set to close appears below.

Chris Laverty, joint administrator and restructuring partner at KPMG, said: “Today’s deal ensures the continued trading of a well-known name on the high street. While it is unfortunate that redundancies have been necessary, we are pleased that we have been able to preserve the majority of the business and jobs.

“Like many other retailers, Peacocks suffered from a decline in consumer spending due to the tough economic conditions and this, combined with a surplus of stores and unsustainable capital structure led to the business becoming financially unviable.

“However, a strong brand presence and loyal customer following meant that Peacocks attracted a great deal of interest from both trade and private equity bidders, leading to today’s successful sale.”

Peacocks’ North West stores set for closure:
Winsford      
Barrow-in-Furness     
Old Swan      
Ellesmere Port
Huyton
Chesterfield  
Kendal
Stockport     
Liverpool x 2 
Warrington (Bridge Street)    
Workington    
Birkenhead    
Southport     
Manchester x 2
Wigan 
Blackpool     
Preston
Birchwood ( reloc )   
Cheetham Hill 
Chester
Bury  
Blackburn     
Carlisle      
Burnley
Bromborough   
Flint