Question marks remain over Royston’s Peacocks store
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.