UK: Peacocks coy on store closure rumours
UK fashion chain Peacocks is remaining tight-lipped on reports that it may close some 200 stores as it looks to restructure around GBP240m (US375m) in debts.
The company, which operates 611 Peacocks stores and 394 Bonmarche stores in the UK as well as 117 international outlets, declined to comment on reports by Sky News which said that the company was looking to shutter up to 200 UK stores.
"We continue to progress our restructuring discussions and plans, with no decisions taken at this point," a company spokesperson told just-style
The discussions over the company's future involve a syndicate of banks led by Barclays and Royal Bank of Scotland, reported Sky News.
At the end of November, The Independent reported that Goldman Sachs was in talks with the retailer around potentially becoming its biggest stakeholder in exchange for writing off some of its debt.
The number of high street stores entering administration shot up over the first quarter of this year, according to statistics from the Insolvency Service. ...
The number of retailers falling into administration in the first quarter of this year increased by 15% compared with the same period last year, according to research by business advisory firm Deloitte...
Morrisons has confirmed that it has appointed former Peacocks managing director Tim Bettley as director of clothing....
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