Fashion High Street Chain Peacocks to axe Jobs
20 January 2012
The troubled fashion retailer Peacocks is set to axe more than 200 staff.
After the company went into administration, administrators KPMG said 249 workers at its headquarters in Cardiff were going to lose their jobs.
The administrators said the cuts follow "a review of the staffing levels of the business."
Chris Laverty, a spokeperson from KPMG, said: "No stores have been closed and will continue to operate as normal whilst we search for a buyer for the business."
266 staff will continue to remain at the head office and work with the administrator while a buyer for the company is found.
Peacocks entered administration after apparently failing to persuade its lenders to agree to a debt-for-equity deal.
The fashion chain, which has 611 stores and 49 concessions in the UK, is owned by hedge funds Och-Ziff and Perry Capital.
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