Published: February 22, 2012
Burnham-On-Sea's Peacocks store saved from closure by new owners

Staff at Burnham-On-Sea's Peacocks store breathed a sigh of relief on Wednesday (February 22nd) when it was announced that the firm's new owners have saved it from closure.

Edinburgh Woollen Mill, which is one of the UK’s largest high street chains, has acquired the Peacocks brand, plus 388 stores across the UK - including the one in Burnham High Street.

The remaining 224 Peacocks stores across the country which were not included in the sale have ceased trading with immediate effect, resulting in 3,100 job losses.

A spokeswoman at administrators KPMG told "I can confirm the Burnham store is on the list to continue operating under the new owners."

Chris Laverty, joint administrator and restructuring partner at KPMG, added: "While it is unfortunate that redundancies have been necessary, we are pleased that we have been able to preserve the majority of the business and jobs."

"Like many other retailers, Peacocks suffered from a decline in consumer spending due to the tough economic conditions and this, combined with a surplus of stores and unsustainable capital structure led to the business becoming financially unviable."

"However, a strong brand presence and loyal customer following meant that Peacocks attracted a great deal of interest from both trade and private equity bidders, leading to today’s successful sale." reported here last month that there were fears the store in Burnham High Street might close.


Bookmark and Share

Search|Add to your Bookmarks|Send a mail from|Print this page|Back to previous page|Discuss this article

Burnham-On-Sea Seafront Webcam
Burnham-On-Sea Webcam
24-hour live pictures
See live images of the seafront and beach with Burnham's Webcam. Click here

Burnham-On-Sea Shops
Burnham-On-Sea Shopping Guide
Buy in Burnham!
Support local traders by shopping in town - see our A-Z index of businesses. Click here

Burnham-On-Sea Video
Burnham-On-Sea Video
Burnham video news
Watch video highlights of events across Burnham with these video clips. Click here

Burnham-On-Sea Photos
Burnham-On-Sea Photos

Photo gallery
Hundreds of photos from events across the Burnham-On-Sea area. Click here