DCSIMG

Branch saved in Peacocks buyout

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editorial image

MORE than a dozen jobs have been saved at a South Tyneside store after a national buy-out deal.

Although more than 3,000 jobs were axed after ailing fashion chain Peacocks was sold out of administration yesterday, the Jarrow store has won a reprieve.

Coun Tom Hanson, chairman of Jarrow community area forum, said: “This is great news, particularly with unemployment being what it is.

“The fact that Peacocks is staying open in Jarrow is good for the town.”

A spokesman for administrators KPMG said Peacocks in the Viking Centre, Jarrow, will remain open, safeguarding 13 jobs.

The news comes just a week after clothing rival Bon Marche announced it will close its store in Jarrow town centre, after the struggling company was taken over by American company, Sun European Partners.

The Peacocks deal with Edinburgh Woollen Mill will save 388 shops and more than 6,000 jobs, but administrators from KPMG will close 224 stores with immediate effect, with 3,100 redundancies.

 

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