Peacocks employees awaiting news on jobs

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WORKERS at the Leven branch of Peacocks are continuing to wait and wonder this week over the future of their jobs.

Nearly 250 posts were shed at the company’s head office in Cardiff after it went into administration last week – but there is no word yet on the fate of individual stores.

Peacocks employs 12 people at its Shorehead outlet, which has been a fixture in Leven for 10 years, while the group has over 600 stores and concessions across Britain.

However, KPMG LLP was called in as administrator after the discount clothing chain hit difficulty in restructuring debts of around £240 million.

KPMG is looking for a buyer and a spokesman said talks were ongoing with a number of potential investors.

An announcement was possible early next week, he added.

The job cuts in Wales followed “a commercial review of staffing levels of the business”, with nearly 270 employees remaining at head office and working with the administrator “while a buyer for the company is actively sought”.

Chris Laverty, joint administrator and restructuring partner, added: “No stores have been closed and will continue to operate as normal while we actively search for a buyer for the business.”

Last week at the Leven branch, customer notices were posted on the door to explain the firm’s policy on goods bought before and after the company entered administration.

On Monday, it was announced that fashion chain Bonmarche, part of the Peacocks Group, had been bought by private equity group Sun European Partners.

However, it was also revealed the deal could mean around 1000 redundancies, with store closures.