Peacocks takeover: Edinburgh Woollen Mill buy retailer but 3,100 jobs lost

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.

The announcement was made by KPMG, joint administrators of Peacocks, who were called in in January.

Joff Pope, joint administrator and associate partner at KPMG, said the deal would ensure the continued trading of a well known name on the high street.     Full Read