North-East Business
North-East Peacocks workers face redundancy
6:27pm Wednesday 22nd February 2012
STAFF at ten Peacocks stores in the North-East are amongst 3,100 workers to lose their jobs after the ailing fashion chain was sold out of administration yesterday.
The deal with Edinburgh Woollen Mill will save 388 shops and more than 6,000 jobs but administrators from KPMG said it had been forced to close 224 stores with immediate effect, leading to the redundancies.
The North-East stores to close are at Spennymoor, Durham, Thornaby, Middlesbrough, Peterlee, Killingworth, Sunderland, Gateshead, The MetroCentre and Newcastle.
Chris Laverty, joint administrator at KPMG, said: ''Today's deal ensures the continued trading of a well-known name on the high street.
''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.''