Fri Jan 20, 2012 5:14 pm
Sat Jan 21, 2012 9:07 pm
Mon Jan 23, 2012 3:07 pm
Eleven Kenilworth jobs have been put at risk this week as The Peacocks’ Group went into administration.
The heavily indebted value fashion chain, which has one of its 700 stores in Warwick Road, and employs 10,000 across the country, has £240m of net debt.
Richard Kirk, chief executive, supported by Allan Leighton, Peacocks’ chairman, has been holding talks this week with an unnamed investor in a bid to save the chain but despite the efforts of the board, these discussions concluded on Wednesday and Peacocks was placed into administration. KMPG LLP have been appointed as administrator, and will manage Peacocks stores going forward.
David Butler, Kenilworth town centre manager, said: “It would be disappointing if Peacocks were to leave our town, however Kenilworth has a vibrant and vital town centre.
“There remains exceptionally low vacancy rates, compared nationally and to neighbouring towns.
“This is at least in part due of the high number of quality independent businesses the town has, complemented by the national multiples. This has meant as national chains have gone into administration it hasn’t produced vacant units in our town so far. We must therefore continue to shop locally. The retailers rely on our custom, and I would encourage everyone to shop in their town centre wherever possible, so the town can continue its success story.”
Richard Kirk, company chief executive, said: “Peacocks is a brand with a great heritage, and it is with deep sadness that we have been left with no other option but to place the business into administration.
“We have worked tirelessly over the past year to agree a new financial structure to take the business forward in the current, tough retail environment, including seeking new investment for the business.
“This is a hugely sad development for all of our stakeholders, especially our employees who have shown total commitment to the business over an uncertain and difficult period. I would like to take this opportunity to thank all colleagues for their hard work and dedication.”
Fri Jan 27, 2012 5:12 pm
JOBS are under threat at a store in Nuneaton town centre which will be cashing up its tills permanently next month.
The axe has fallen on the Mothercare shop after it has been announced that it will officially close for the final time on Thursday, February 16.
Rumours had been rife that the Bridge Street-based shop would be shutting for weeks and now bosses have confirmed the news.
No reasons have been given for the closure of the site, but it will leave parents and carers of youngsters with one less store catering for their needs in the town.
A spokesperson for Mothercare said: "The Mothercare store in Nuneaton will close on Thursday, February 16, 2012. The closure of the Nuneaton store is in line with our current portfolio plan.
"We hope this has not upset any customers and that they will continue to shop at our Mothercare store in the Central Six Retail Park, Coventry, CV3 6TA and via our website http://www.mothercare.com 24 hours, seven days a week. Customers can also shop direct from our catalogue by calling Mothercare on 0844 875 5111."
It is unclear what the future holds for staff as a consultation is to take place and until that comes to an end bosses are remaining tight-lipped about jobs.
The spokesperson added: "We are currently in consultation with the staff at the Mothercare store in Nuneaton and until those consultations have concluded we will not know if we are to lose any staff."
The fate of the Early Learning Centre, which is owned by Mothercare PLC and based next door to the local shop, is still unclear.
As revealed in the Nuneaton News it is believed that it will be closing down at some point this year just like Mothercare.
This is more bad news for Nuneaton town centre after the loss of such big names as TJ Hughes, Marks and Spencer, Jane Norman and Starbucks in the town.
The future hangs in the balance for Bon Marche and Peacocks, which could mean that two more shops could be standing empty in the near future.
Sat Feb 04, 2012 8:46 pm
Wed Feb 22, 2012 8:34 pm
flapdoodle wrote:Peacocks is closing.
Fashion retailer Peacocks has been sold out of administration to Edinburgh Woollen Mill, saving 6,000 jobs, but 3,100 staff will be made redundant.
It means that 6,000 jobs across the UK will be safeguarded, including around 250 at the head office in Cardiff.
The deal will include 338 stores, 57 concessions, three distribution centres and the head office, said Edinburgh Woollen Miill.
But 224 stores have ceased trading with immediate effect.
Wed Feb 22, 2012 9:10 pm
flapdoodle wrote:Both Coventry sites are closing (which is what I meant originally)
Bon Marche in Coventry is closing/has closed - it was owned by Peacocks and sold on.
Wed Feb 22, 2012 9:53 pm
flapdoodle wrote:Looks like Kenilworth, Bedworth, Nuneaton are staying open.
Not sure which Coventry store is closing. There are three - Central Six, City Centre and one in a Co-Op in Holbrooks...
Wed Feb 22, 2012 10:00 pm
flapdoodle wrote:I have never been in Peacocks! I don't even know what they sell.
Thu Feb 23, 2012 5:28 pm