TWELVE staff at Peacocks in Morecambe are to keep their jobs after the fashion retailer was sold out of administration to Edinburgh Woollen Mill.
The Morecambe store is one of 338 shops that were saved following the buyout. However, 224 stores have ceased trading with immediate effect, with 3,100 people made redundant.
Jeff Pope, joint administrator and associate partner at KPMG, who are joint administrators of Peacocks, said the deal would ensure the continued trading of a well known name on the high street.
“While it is unfortunate that redundancies have been necessary, we are pleased that we have been able to preserve the majority of the business and jobs,” he said.
Peacocks, with 611 stores and 49 concessions across Britain, had employed 9,100 people.
See The Visitor (28-02-12) for full story.