Collapsed fashion chain Peacocks has been bought out of administration - but uncertainty surrounds whether the firm’s Dumbarton store will reopen.
It was previously owned by Edinburgh Woollen Mills (EWM) and has been bought by an international investment consortium lead by the retailer’s former chief operating officer, Steve Simpson.
The management team hope that, with the support of their partners, suppliers and landlords, they will be able to reopen up to 200 stores, protecting around 2000 jobs.
This is around half of its stores as the company had around 400 premises when EWM collapsed in November.
The firm has operated a store in Dumbarton’s Artizan Centre and uncertainty surrounds whether this is one of the shops which will reopen.
The consortium has agreed to provide “sufficient working capital” to enable the business to emerge from administration, while EWM agreed to utilise its security and provide a deferred loan to the consortium.
