Clothes store in administration

Peacocks store in Northgate Heckmondwike Jan 2012
Peacocks store in Northgate Heckmondwike Jan 2012
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POPULAR fashion chain Peacocks has called in administrators.

Peacocks, which has a store in Heckmondwike, announced on Wednesday it had appointed KPMG LLB as administrators.

It means KPMG LLB will now work to pay off creditors and try to save the company from bankruptcy.

Talks took place earlier this week to find other investors but none could be found.

Staff at the Heckmondwike store said they could not comment on the announcement.

Richard Kirk, chief executive of the Peacock Group, said: “Peacocks is a brand with 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 during their time with the group.”