Huge interest for Peacocks from trade and private equity
KPMG have said they have received a huge level of interest for the collapsed Peacocks clothing chain from both trade and private equity buyers.
The administrators said in announcement today that they have had over 100 conversations with interested parties looking at either acquiring the whole business or parts of the business.
Peacocks, which operates 611 stores across the UK and employs over 9,000 people, went into administration last week with around £750 million of debt.
David McCorquodale, corporate finance partner at KPMG, said: “We are in discussions with both trade and financial investors considering the acquisition opportunity. What is clear is that the Peacocks brand and extensive geographic footprint remain attractive. Therefore, we are hopeful of finding a buyer for all or a substantial portion of the business on a going concern basis.”
KPMG is providing financial information for potential bidders and will ask for bids shortly.
The administrators are trading the company during the sales process and all stores continue to operate as usual.
