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Failed Peacocks chain makes 249 head office staff redundant

Administrators for the failed Peacocks chain have announced that nearly half of the clothing chain’s head office employees have been made redundant as efforts continue to try to find a buyer for the company.

CITY & CORPORATE

Failed Peacocks chain makes 249 head office staff redundant

KPMG said yesterday that 249 of the 515 head office staff had been made redundant.  

Chris Laverty, joint administrator and restructuring partner at KPMG, said: "It is with regret we have made 249 redundancies at Peacocks’ head office in Cardiff, which follow a commercial review of the staffing levels of the business. No stores have been closed and will continue to operate as normal while we actively search for a buyer for the business."

The debt-laden business, which has 563 shops and 48 concessions, appointed KPMG as administrators on Wednesday after a last minute rescue bid was rejected by its banks. The administration puts thousands of jobs at risk as Peacock still employs over 9,000 staff following yesterday’s redundancies.

The group’s other retail business, the Bonmarche chain, has not yet gone into administration but filed a notice of intent to do so on Monday.

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