Peacocks is back: 200 stores and 2,000 jobs SAVED as senior executive rescues collapsed chain

Collapsed fashion chain Peacocks has been bought out of administration by a senior executive with backing from a consortium of international investors, saving 200 stores and 2,000 jobs, it has been announced.   

Peacocks, which was part of billionaire Philip Day’s EWM Group retail empire, went into administration last November. 

The Cardiff-based chain operated 423 stores with 4,369 staff before its collapse. 

Peacocks went into administration at the same time as Jaeger, another member of the EWM group. 

Both retailers confirmed at the time that they had appointed administrators from FRP Advisory.

Jaeger, which was bought by Mr Day in May 2017, ran 76 stores and concessions and employed 347 staff.

The two companies were put into administration after a two-week deadline to find a buyer passed.

Mr Day’s EWM Group had already placed its Edinburgh Woollen Mill and Ponden Home business into administration a few weeks before Peacocks and Jaeger. 

FRP joint administrator Tony Wright said at the time: ‘Jaeger and Peacocks are attractive brands that have suffered the well-known challenges that many retailers face at present.

‘We are in advanced discussions with a number of parties and working hard to secure a future for both businesses.’

Peacocks was founded in Warrington back in 1884 first as a penny bazaar. It expanded quickly over the decades and moved into Wales to base itself back in the 1940s.

The relocation accelerated its growth and saw it listed on the London Stock Exchange back in 1999.

It was taken over following a £400million management buyout in 2005, making it again privately owned.

But six years later is was put into administration and 250 head office staff were made redundant.

In February 2012 is was sold to Edinburgh Woollen Mill Group, who had hoped to open hundreds more branches.