Peacocks teeters on brink of administration
According to reports, state-owned RBS is unwilling to invest more money in the brand despite a 17% increase in like-for-like sales over the Christmas period. The company currently has debts of £240 million.
It has been reported that a potential buyer has been found for the company's 200-strong Bon Marche chain of stores but no buyer has emerged for the rest of the business.
Peacocks CEO Richard Kirk has overseen a period of rapid expansion since buying out the Peacock family in the mid 1990's. The company has 700 stores employs 13,000 people.
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