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Peacocks may close 200 stores Thursday, 8th December 2011
Discount retail group Peacocks is considering the closure of up to 200 shops to safeguard the company’s future.
The closures would strike around one in five of Peacock’s stores, and are being discussed as part of a broad restructuring plan aimed at safeguarding the company’s future, according to Sky’s Mark Kleinman.
An agreement is currently in the works between the company’s lenders and its shareholders to restructure the company’s debts and its operations. Goldman Sachs is said to be involved in discussions which continued today, with hopes of reaching an outline deal before Christmas.
The talks are yet to result in any firm decisions, and so the store closure numbers could yet reduce from the 200 under consideration.
“We continue to progress our re-restructuring discussions and plans, with no decisions taken at this point.”