EWM Group COO Steve Simpson buys Peacocks out of administration

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Collapsed UK trend retailer Peacocks has been purchased out of administration by Edinburgh Woollen Mill Group’s (EWM) chief working officer (COO) Steve Simpson with backing from a global consortium, it was introduced not too long ago. The takeover will save 2,000 jobs and 200 shops, which Simpson hopes to reopen as soon as lockdown restrictions on non-essential retailers ease.

Peacocks was a part of the Philip Day-owned EWM trend retail empire which collapsed in November final yr.

The brand new proprietor will choose up the £70million tab owed to unsecured collectors – together with suppliers and landlords, UK media reported.

EWM, Ponden Dwelling and Bonmarche have been rescued from administration in early January in a fancy take care of funding consortium Purepay Retail.

Fibre2Fashion Information Desk (DS)


Collapsed UK trend retailer Peacocks has been purchased out of administration by Edinburgh Woollen Mill Group chief working officer Steve Simpson with backing from a global consortium, it was introduced not too long ago. The takeover will save 2,000 jobs and 200 shops, which Simpson hopes to reopen as soon as lockdown restrictions on non-essential retailers ease.

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