Two Peacocks stores saved but one closes
FASHION chain Peacocks has closed their branch in Killingworth.
An announcement was made on Wednesday that the Edinburgh Woollen Mill chain had bought the company out of administration, saving around 6,000 jobs.
However, 224 stores ceased trading with immediate effect, the shop at the White Swan Centre in Killingworth being one of those axed, costing 3,100 staff nationwide their jobs.
The chain’s two other North Tyneside stores, in Whitley Bay’s Park View shopping centre and Bedford Street in North Shields, will remain open.
Peacocks went into administration in January 2012, triggering large-scale job losses at its Cardiff head office.
Edinburgh Woolen Mill this week took over 338 stores, 57 concessions, three distribution centres and the chain’s Welsh head office.
Philip Day, chairman and chief executive of the Langholm-based firm, said: “We look forward to working with our new colleagues to rebuild the business in what is a very tough economic environment for high-street retailers in the UK.
“As you can imagine, there will be a considerable amount of work to undertake over the next few months to stabilise the situation, turn this business around, get the supply chain moving again and excite the customers with great products.”
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Friday 25 May 2012
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