Peacocks go into administration

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THE future of a town centre shop is in doubt after its owners went into administration today (Tuesday).

A spokesman for Peacocks said: “The board of the Peacock Group and its advisers have been discussing for some time the restructuring of the business with the group’s lenders.

“Unfortunately these talks have now concluded and no agreement has been reached. However, discussions with other potential investors are on-going. To protect the business whilst discussions with such investors are progressed, the Directors of The Peacock Group have filed a notice of Intention to Appoint an Administrator. Existing management remain in place as an administrator has not been appointed.”

The announcement today has left the future of the Peacocks shops in North Street unclear.

Staff today said that they hadn’t been told what would be happening to the store.

Peacocks said it wouldn’t comment on individual stores.

The company, which employs thousands of people across the UK, also owns Bonmarche which it is looking to sell as a going concern.

A spokesman said: “Following this careful and thorough review, the board believes Bonmarche will be better positioned under different ownership and is in advanced and exclusive discussions with a potential purchaser.”

**FOR MORE ON THIS STORY AND A FULL ROUND UP ABOUT TOWN CENTRE SHOPPING SEE THURSDAY’S RUGBY ADVERTISER**