Question marks remain over Royston's Peacocks store
PUBLISHED: 14:47 25 January 2012 | UPDATED: 15:40 25 January 2012
QUESTIONS over the future of Royston's Peacocks store remain after the chain this week went into administration.
Peacocks Group’s chief executive Richard Kirk said: “It is with deep sadness that we have been left with no other option but to place the business in administration.”
The Peacocks Group, which employs a combined 11,000 staff, said it made the decision after discussions with lenders over debts of £240 million had broken down.
The company said no stores would be closing yet, and that it was still seeking a buyer.
Bonmarche, a stablemate of Peacocks, has been sold and the buyer will close 160 of 394 shops.
About 1,300 jobs are expected to be axed.