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 Peacocks "on the brink of administration"
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Scottman
Advanced Member

United Kingdom
1831 Posts

Posted - 20 Jan 2012 :  17:56:43  Show Profile
Perhaps they should ask the banks to take a financial haircut and only have to pay back 50% - its very fashionable I understand ...

Wonder if its worth trying on the mortgage ....
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mb1
Advanced Member

United Kingdom
2326 Posts

Posted - 21 Jan 2012 :  10:36:05  Show Profile
Good idea Scottman - I'm going to give that a go!
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ian.ball
WoLFer & Moderator



United Kingdom
2923 Posts

Posted - 23 Jan 2012 :  12:46:11  Show Profile
Not good news for Peacocks today:

http://www.bbc.co.uk/news/business-16680318

I hope all the staff in Ware are kept on and I also hope the uncertainty is short lived for you, my thoughts & sympathy are with you all.
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Speculator
Average Member

United Kingdom
371 Posts

Posted - 24 Jan 2012 :  12:47:12  Show Profile
I feel sorry for anyone who has received Peacocks Gift Vouchers for Christmas.

They are now virtually worthless.
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mb1
Advanced Member

United Kingdom
2326 Posts

Posted - 24 Jan 2012 :  13:11:35  Show Profile
KPMG now looking for Peacocks buyers, but according to Wall Street Journal (http://online.wsj.com/article/BT-CO-20120123-706883.html) their losses are actually around 750 million, three times what was previously reported. Note also that as the debts went through the roof last year the pay of the chief executive went up 60% to 1.8m, so he won't walk away unhappy.
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steve
Moderator

United Kingdom
1485 Posts

Posted - 22 Feb 2012 :  16:27:07  Show Profile
Peacocks have been bought by Edinburgh Woollen Mill, although they're still shedding 3,100 staff.
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Speculator
Average Member

United Kingdom
371 Posts

Posted - 22 Feb 2012 :  16:37:41  Show Profile

(Reuters) - Clothing retailer Edinburgh Woollen Mill is to acquire two thirds of discount clothing retailer Peacocks stores, in a deal which will see 6,000 jobs saved, Peacocks' administrators KPMG said on Wednesday.

The administrators said in a statement that Edinburgh Woollen Mill agreed to buy 388 stores from Cardiff-headquartered Peacocks, but the other 224 stores would be closed immediately, leading to 3,100 redundancies.

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Wareite1969
Junior Member

57 Posts

Posted - 22 Feb 2012 :  19:10:22  Show Profile
According to the BBC News Website the Ware branch is one of the stores not included in the sale and therefore closed. Another High Street store lost :(

http://www.bbc.co.uk/news/uk-wales-17128141
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Andy B
Moderator



New Zealand
3264 Posts

Posted - 22 Feb 2012 :  20:05:28  Show Profile
quote:
Originally posted by Wareite1969

According to the BBC News Website the Ware branch is one of the stores not included in the sale and therefore closed. Another High Street store lost :(

http://www.bbc.co.uk/news/uk-wales-17128141



The list is titled "List of Peacocks store closures" and Ware is not included in it so I am assuming they are staying open. Unless I have misinterpreted it?
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Wareite1969
Junior Member

57 Posts

Posted - 22 Feb 2012 :  20:13:22  Show Profile
quote:
Originally posted by Andy B

quote:
Originally posted by Wareite1969

According to the BBC News Website the Ware branch is one of the stores not included in the sale and therefore closed. Another High Street store lost :(

http://www.bbc.co.uk/news/uk-wales-17128141



The list is titled "List of Peacocks store closures" and Ware is not included in it so I am assuming they are staying open. Unless I have misinterpreted it?



It is in the list headed SOUTH/S EAST/EAST ENGLAND - about half way down (next to Swanley). The list is helpfully arranged in no particular order !!

Edited by - Wareite1969 on 22 Feb 2012 20:14:39
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mb1
Advanced Member

United Kingdom
2326 Posts

Posted - 22 Feb 2012 :  20:22:36  Show Profile
So the store will close, I wonder if this means that Greggs will close too, they rent from Peacocks?
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WickenMan
Average Member

United Kingdom
442 Posts

Posted - 22 Feb 2012 :  22:18:51  Show Profile
Big enough for Weatherspoon's?
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Riverside
Average Member

119 Posts

Posted - 23 Feb 2012 :  08:35:47  Show Profile
My understanding is that Greggs is doing very well. Would they not be renting from the landlord of the site rather than Peacocks? I do not know just thinking which of course is a dangerous thing to do.
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TIN SOLDIER
Junior Member

United Kingdom
88 Posts

Posted - 23 Feb 2012 :  08:37:09  Show Profile
ASDA ?
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SDArcy
Average Member



United Kingdom
280 Posts

Posted - 23 Feb 2012 :  08:54:19  Show Profile
Palms 2? - hey, I can live in hope....
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mb1
Advanced Member

United Kingdom
2326 Posts

Posted - 23 Feb 2012 :  09:58:21  Show Profile
Riverside - it was in the Mercury last week that they rent from Peacocks. It's not a financial thing with them, it's just whether the change of ownership means they get booted out.
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Moulder
Senior Member



United Kingdom
808 Posts

Posted - 23 Feb 2012 :  10:55:20  Show Profile
quote:
Originally posted by WickenMan

Big enough for Weatherspoon's?



I would have thought so but a helleva lot of refurbishment and fitting to do. I'm plumbing for 'Iceland' myself........
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mb1
Advanced Member

United Kingdom
2326 Posts

Posted - 23 Feb 2012 :  11:16:45  Show Profile
There's lots of space upstairs too, could be a big Weatherspoons!! Or a cinema with a bowling alley and a weatherspoons.
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