United Kingdom

Details

  • Service: Advisory, Transactions & Restructuring
  • Industry: Retail and Consumer Goods
  • Type: Press release
  • Date: 19/01/2012

Peacocks administration update: 249 redundancies made 

The joint administrators of Peacocks have announced 249 redundancies at the head office today.  266 staff will remain at head office and will work with the administrators whilst a buyer for the company is actively sought.

 

Chris Laverty, joint administrator and restructuring partner at KPMG, commented: “It is with regret we have made 249 redundancies at Peacocks’ head office in Cardiff, which follow a commercial review of the staffing levels of the business.  No stores have been closed and will continue to operate as normal whilst we actively search for a buyer for the business.”

 

The Peacocks business operates around 563 stores and 48 concessions across Northern Ireland, Scotland, England and Wales.  It employed approximately 9,600 staff in the UK, which has now been reduced to 9,351 following today’s redundancies.

 

  • Interested parties should contact David McCorquodale at KPMG on 0131 527 6718 or Rob Baxter at KPMG on 020 7311 8246;
  • The administrators have set up a general query email address and helpline number: questions@peacocks.co.uk, 02920 270800.
  • More detailed information for stakeholders, such as landlords, employees and creditors, is available at www.peacocks.co.uk.

 

-Ends-

 

Notes to editor

 

For further information, please contact:

 

Sorrelle Cooper, Senior PR manager, KPMG

sorrelle.cooper@kpmg.co.uk          

020 7694 8527 / 07932 078218

 

Zoe Sheppard, PR manager, KPMG

zoe.sheppard@kpmg.co.uk                       

0117 905 4337/ 07770 737994

 

Dave Lafferty, Citypress (contact for Northern press queries)

dave.lafferty@citypress.co.uk       

0161 235 0318 / 07545 211 511

 

Phil Addicott, Big Partnership (contact for Scottish press queries)

phil.addicott@bigpartnership.co.uk

0141 333 9585 / 07824 666 956

 

KPMG Press Office: 020 7694 8773

 

Store locations / staff numbers

 

Please contact the KPMG press team for more detailed information.

 

About KPMG

 

KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and operates from 22 offices across the UK with over 11,000 partners and staff.  The UK firm recorded a turnover of £1.7 billion in the year ended September 2011. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. We operate in 152 countries and have 145,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity.  KPMG International provides no client services.

 

Christine Mary Laverty, Edward George Boyle, Richard Dixon Fleming and Jonathan Scott Pope were appointed Joint Administrators of Peacock’s Stores Limited, The Peacock Group plc, Dorsman Estates Co Limited, Peacocks (Nantgarw) Limited and Henson No.4 Limited on 19 January 2012.

 

The affairs, business and property of the company are being managed by the Joint Administrators

The Joint Administrators act as agents of the company and contract without personal liability

Edward George Boyle is authorised to act as an Insolvency Practitioner by the Institute of Chartered Accountants in England and Wales

Richard Dixon Fleming, Christine Mary Laverty and Jonathan Scott Pope are authorised to act as Insolvency Practitioners by the Insolvency Practitioners Association