A QUESTION mark hangs over a major store in Bridge Street, Warrington.
Clothing retailer Peacocks has 10 days’ protection from its creditors to find a new investor or it will go into administration with debts of £240m.
The company employs more than 10,000 people at some 600 branches across the UK and 40 more at its Cardiff headquarters.
It is still making operating profits, but the company’s overall financial performance is struggling because of the level of debts arising from a management buy out in 2006.
Negotiations with lenders, including Royal Bank of Scotland and Barclays have, so far, failed to find a solution.
The company says it has been unable to restructure its debts and only way to avoid administration was an injection of new money.
Some analysts say Peacocks may be an attractive buy. It also owns the Yorkshire based fashion chain Bonmarche and efforts are being made to find a potential buyer for its 394 stores.
Bridge Street is already blighted by boarded up shops – particularly the former Boots store – and the closure of another would be a major blow.
Question mark over town centre store
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About Author
Gary Skentelbery
Experienced journalist for more than 40 years. Managing Director of magazine publishing group with three in-house titles and on-line daily newspaper for Warrington. Experienced writer, photographer, PR consultant and media expert having written for local, regional and national newspapers. Specialties: PR, media, social networking, photographer, networking, advertising, sales, media crisis management. Chair of Warrington Healthwatch Director Warrington Chamber of Commerce Patron Tim Parry Johnathan Ball Foundation for Peace. Trustee Warrington Disability Partnership. Former Chairman of Warrington Town FC.
