Buy-out plan offers glimmer of hope for closure threatened Fife shops

A management buy-out (MBO) proposal has been submitted to the administrators of the fashion retailer - and, if successful, has the potential to prevent UK-wide store closures and save almost 5000 people from redundancy.

Peacocks is based in the Mercat Shopping Centre, Kirkcaldy, and the Shorehead, Leven.

The new bid has come from a senior eCommerce manager at Peacocks Stores Ltd in conjunction with a private investor, following last month’s announcement that Peacock’s parent company, EWM Group, had placed the company into administration.

Developer pledges to restore 4000-year old standing stone to its...

The bidders want to purchase the full company, its employees and stores, and also promise to strengthen Peacocks digital offering.

Peacocks Stores Ltd- based in Cardiff - employs 4,908 staff and has 470 stores and concessions across the UK.

A representative from the MBO said it was confident that with the right investment, it can chieve a quick return to financial sustainability.

Thank you for reading this article on our free-to-read website. We're more reliant on your support than ever as the shift in consumer habits brought about by Coronavirus impacts our advertisers.

Please consider purchasing a subscription to our print newspaper to help fund our trusted, fact-checked journalism.

https://www.localsubsplus.co.uk/nord/dm/FFP/V