Apr 6, 2021

Peacocks stores back in business as buyout saves 2,000 jobs

The collapsed fashion chain Peacocks has been bought out of administration, a move that it is hoped will save all 2,000 jobs and 200 shops. EWM Group is a private investment group controlled by the Day family, which is owed money by Peacock's and is supporting the consortium. The Peacocks' management team hope that, with the support of their partners, suppliers and landlords, they will be able to reopen up to 200 stores. The statement added the company hoped all 1,850 store staff, who are currently on furlough, will be able to return to work once stores reopen, along with more than 150 in head office and support. Peacocks had 400 stores going into the pandemic a year ago and announced a series of job losses and store closures as it struggled to manage under the various restrictions.

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