Peacocks news and archive

Peacocks, Bonmarché and EWM return to profitability following administrations

High street retailers Peacocks, Edinburgh Woollen Mill (EWM) and Bonmarché, part of Purepay Retail Ltd’s portfolio, have each reported a return to profitability after filing for administration in 2020. Together with sister brand Ponden Home, the EWM and Bonmarché’s parent company saw a “robust” turnover for the trio of 195.094 million pounds for...

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Frasers Group calls for inquiry into Peacocks sale

Frasers Group has called for an inquiry into the sale of Peacocks, which was bought out of administration this week after collapsing in November. Administrators from FRP announced Tuesday that Peacocks had been acquired by an international investment consortium lead by the discount retailer’s former chief operating officer, Steve Simpson....

ManagementFeatured

Peacocks bought out of administration, plans to save 200 stores

Collapsed British fashion chain Peacocks has been bought out of administration. The company has been snapped up by an international investment consortium lead by the discount retailer’s former chief operating officer, Steve Simpson. The consortium has agreed to provide “sufficient working capital” to enable the business to emerge from...

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Jaeger announces job cuts and store closures

A week after falling into administration, Jaeger has announced it is to cut 103 jobs and close 13 stores and concessions. The Edinburgh Woollen Mill (EWM) Group-owned fashion brand, along with EWM Group-owned discount retailer Peacocks, appointed administrators from advisory firm FRP last week following failed efforts by management to secure a...

ManagementFeatured

Jaeger and Peacocks fall into administration

Edinburgh Woollen Mill (EWM) Group’s Jaeger and Peacocks chains have fallen into administration. Tony Wright and Alastair Massey, partners at advisory firm FRP, were appointed joint administrators on Thursday following efforts by management to secure a solvent sale of both businesses. London-based Jaeger has 76 stores and concessions and 347...

Business

As two UK retailers go into administration job loss could be as high as 4,700

UK fashion chains Peacocks and Jaeger have gone into administration, their owners announced on Thursday, putting 4,700 jobs at nearly 500 shops under threat. Parent company the EWM group, which had been searching for a buyer, said administrators had been appointed, although no redundancies or store closures had yet been confirmed. Peacocks is...

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Jaeger owner Edinburgh Woollen Mill on brink of administration

Philip Day’s Edinburgh Woollen Mill Group (EWM) has filed a notice to appoint administrators in a bid to save the company amid “brutal” trading conditions, a move reportedly putting 24,000 jobs at risk. The group, whose portfolio includes brands Jaeger and Peacocks, said its stores will continue to trade as insolvency firm FRP spends 10 days...

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Philip Day seeks valuation of Peacocks

Retail tycoon Philip Day is reportedly launching a valuation process for discount retail chain Peacocks. The Sunday Times reported that Day appointed advisory firm FRP to find potential buyers for Peacocks and Edinburgh Woollen Mill, though sources close to the matter have stressed the process is merely a valuation and only concerns Peacocks. If...

Management

Edinburgh Woollen Mill profits rise, losses narrow at Jaeger

Philip Day’s Edinburgh Woollen Mill Group (EWM Group) has reported strong profit growth in its latest financial figures, while losses at its premium fashion brand Jaeger have considerably narrowed. The group, which also owns brands such as Peacocks, Austin Reed and Jane Norman, reported a profit after tax for the 27-week period to 2 March 2019...

Management

Peacocks named 'preferred bidder' for Bonmarché

British womenswear retailer Bonmarché could be rescued by rival Peacocks after falling into administration earlier this year. Administrator FRP Advisory has named discount fashion chain Peacocks as the “preferred bidder” for the business after the deadline for bids ended on Friday 15 November, although it noted that negotiations are still...

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How non-profits are turning high-street fashion surplus into funding for children in need

New York – Non-profits such as Newlife (which focuses on helping children with medical needs) offer high-street fashion chains an easy way to manage their environmental responsibilities and improve their stock control. Newlife offers clothing retailers a recycling solution that takes thousands of tonnes of end-of-line stock, customer returns and...

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Peacocks makes changes to supplier payment terms

Discount fashion chain Peacocks is increasing the maximum time it takes to pay for shipments from 90 days to 130 days in a move that aims to see suppliers paid faster. In a letter written to suppliers and seen by the Sunday Times, it was revealed that suppliers would now be using finance company Tradewind which will pay their invoice in seven to...