PEACOCKS is to reopen 200 stores following a rescue deal saving it from administration and saving 2,000 jobs.
A group of international investors, backed by the chief operating officer of Edinaburgh Woollen Mill, will buy out the retailer from administration.
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No job losses are planned as a result of the deal.
All 1,850 store staff currently on furlough will be able to return to work once stores reopen, as well as more than 150 colleagues in head office and support roles.
Peacocks has across 423 stores but hasn’t confirmed what will happen to stores that will not reopen when lockdown rules ease on April 12.
But we have asked for more information and will update you when we know more.
Peacocks fell into administration last November after a two-week deadline to find a buyer for the company ended without a deal.
The store was placed into administration due to the “devastating effects” of the Covid lockdown, the company said.
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