Announcement pending on Peacocks

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ADMINISTRATORS for problem-hit discount clothing chain Peacocks have hinted at an announcement shortly about a possible buyer.

KPMG previously reported strong interest in attempts to find a buyer for “all or a substantial portion of the business on a going concern basis”.

As the Mail went to press, it was understood KPMG was still talking to a small group of “potential acquirers”.

An announcement may be made this week.

Despite profitable trading, Peacocks entered administration last month after difficulties in restructuring debts of around £240 million.

The chain has over 600 stores in Britain – including Leven, where there is an in-store petition in support of the outlet.

The Shorehead shop employs 12 people and has been in the town for 10 years.

Acting as a grass-roots team, Peacocks’ staff nationwide have written to KPMG, insisting any future owner is “a practical and sensitive employer who co-operates with the rank-and-file, recognises its social responsibilities and is able to construct a sound financial structure for Peacocks”.

KPMG declined to comment on the letter.