Peacocks in administration

Clothing chain Peacocks has gone into administration – putting around 9,600 jobs at risk.

Professional services firm KPMG said it had been appointed administrator to Peacocks, which owns 611 stores and 49 concessions across the UK, as well as its parent company The Peacock Group.

Bonmarche, also owned by The Peacock Group, which employs 3,800 staff and operates some 394 stores, has not entered administration and a buyer is being sought for the business.

The Cardiff–based retailer has Bonmarche and Peacocks stores in Rochdale’s Wheatsheaf Shopping Centre.

KPMG said all Peacocks stores remain open as it seeks to find a buyer for the business and no redundancies have been made. Bonmarche filed a notice of intention to appoint administrators on Monday but this allows 10 working days before the appointment of administrators.

Peacocks said it made the decision after discussions with lenders over the future of the group broke down.