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Peacocks to restructure its business

Fashion retail group Peacocks is reported to be considering the closure of up to 200 stores as it seeks to restructure £240 million of debt.

CITY & CORPORATE

Peacocks to restructure its business

Fashion retail group Peacocks is reported to be considering the closure of up to 200 stores as it seeks to restructure £240 million of debt.

The group, which operates 611 Peacocks stores and 394 Bon Marche shops, also has large rent bill coming up on 25 December.

A potential agreement is being discussed with the company’s lenders and shareholders which include Goldman Sachs, Barclays and Royal Bank of Scotland.

A Peacocks spokesman said: "We continue to progress our restructuring plans, with no decisions taken at this point."
 

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