Peacocks stores back in business but only half will reopen
The collapsed fashion chain Peacocks has been bought out of administration, a move that includes transferring 2,000 jobs and 200 shops.
The number means the other half of the 400 trading at the time of the chain's collapse last November will not reopen as Peacocks.
It was previously owned by Edinburgh Woollen Mills (EWM).
The buyers are an international consortium, led by Peacocks' former chief operating officer, Steve Simpson.
He hopes to reopen the stores once non-essential retailers are allowed out of lockdown.
EWM Group is a private investment group controlled by the Day family, which is owed money by Peacocks and is supporting the consortium.
Peacocks owner on brink putting 21,000 jobs at risk
A statement from the administrators, FRP, said the collapse of the chain was due to "the devastating effects of the Covid-19 lockdown" on the business.
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.
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https://www.bbc.co.uk/news/business-56646761