Peacocks takeover: Edinburgh Woollen Mill back in talks, says report
- 22 February 2012
- From the section South East Wales
The Edinburgh Woollen Mill has renewed its interest in taking over Cardiff-based major clothes retailer Peacocks, according to reports.
The Scottish retailer was understood to have pulled out earlier this month of a bid to buy Peacocks, which went into administration in January.
But the Financial Times reports it has now returned to the auction.
Administrator KPMG, which has not commented on the report, is expected to make a decision on a bidder soon.
The Financial Times has reported that KPMG has been in talks with SKNL about the Indian supplier to Peacocks acquiring a substantial number of stores.
It said the Edinburgh Woollen Mill has now returned to the bidding.
The Edinburgh Woollen Mill has 265 mainstream high street stores, 88 speciality tourist shops and 27 destination sites throughout the UK.
Peacocks has almost 600 stores and about 9,000 employees, although nearly half of the 500 staff based at the company's headquarters in Cardiff have already lost their jobs.
Fashion chain Bonmarche, which was part of the Peacocks Group, was bought for an undisclosed sum by private equity group Sun European Partners in January.
It has announced that six Bonmarche stores across Wales will close.
Stores in Aberystwyth, Bangor, Brynmawr, Carmarthen, Newtown and Llanelli are on the list.
Twenty other Bonmarche stores across Wales will remain open.