Peacocks owners face administration after Hatfield store closes
PUBLISHED: 11:51 13 October 2020 | UPDATED: 12:25 13 October 2020
After Peacocks in Hatfield closed its doors with little announcement, it was revealed on Friday that the store’s owners are now facing administration.
Edinburgh Woollen Mill, who also owns the Jaeger brand, which has not reopened its store at the Galleria post-lockdown but has at John Lewis, already appointed business advisory firm FRP to review the business.
EWM chief executive Steve Simpson said: “Traditionally, EWM has always traded with strong cash reserves and a conservative balance sheet, but these stories [of not being able to make payments to creditors], the reduction in credit insurance, against the backdrop of the lockdown and now this second wave of COVID-19, and all the local lockdowns, have made normal trading impossible.”
An FRP spokesman said: “Our team is working with the directors of a number of the [EWM] Group subsidiaries to explore all options for the future of its retail brands Edinburgh Woollen Mill, Jaeger, Ponden Home, and Peacocks.”
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