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.
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Store locations / staff numbers
Please contact the KPMG press team for more detailed information.
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
This article represents the views of the author only, and does not necessarily represent the views or professional advice of KPMG in the UK.