A clothing store with at least a dozen branches in Sussex, and others elsewhere, could have the prospect of being saved by a management buyout, after it passed into the hands of administrators on November 18.
A spokesperson for the bidder said that, if the proposal succeeds, it could prevent shop closures, and save 4,908 people from redundancy.
The bid from a senior eCommerce manager at Peacocks Stores Ltd in conjunction with a private investor, follows the announcement that Peacock's parent company EWM Group had placed the company into the hands of administrators, FRP Advisory.
The proposal, which sets out to purchase the full company, its employees and its stores, also promises to strengthen Peacocks digital offering with what its members call a "clear plan of investment into developing the eCommerce element of the business".
The proposed new owner claimed a strong digital background, and stated it wishes to deliver multiple offerings in the so-called "family value" sector.
It said it would particularly focus on good customer service.
In addition to developing its online presence, the proposed owner's plan also set out to rejuvenate the in-store experience for Peacock's long-established, loyal customer base.
Peacocks Stores Ltd is based in Cardiff, with 470 stores and concessions across the UK including the dozen or so in Sussex.
The MBO team said its members are confident that, with the right investment, they can drive forward innovation, bring about brand recovery and achieve a quick return to financial sustainability.
Team members have pointed out their bid is not funded or supported in any way by the company's previous owners, not its directors, not those of the parent company.
No Ice Rink For Chichester This Christmas
Alcohol Ban In Ibiza And Majorca - What Tourists Need To Know As New Rules Come In
New Bathing Water Sites Approved In Worthing
Renowned Sussex Band Donates To KSS Helicopter Appeal
Adam Lallana To Leave Albion At End Of Season.
Update On Investigation Into Fatal Collision Near Petworth
Mental Health Awareness Week: Free Health Walks In Brighton & Hove
Lewes Prison Under Pressure As Penal Reform Charity Responds To Latest Report
PHOTOS: Ed Sheeran Makes Surprise Visit To Brighton School
Hove Bar Licence Reviewed After Years Of Complaints
Comments
Add a comment