Peacocks snapped up by Edinburgh Woollen Mill Group

THE EDINBURGH Woollen Mill Group has bought clothing chain Peacocks – but the future of Boston’s branch of the troubled retailer remains uncertain.

The deal will save 6,000 of the 9,100 Peacocks jobs but it is unclear which of the 611 stores, including the one in Pescod Square, will stay open.

Edinburgh Woollen Mill Group chairman and chief executive Philip Day said: “I am pleased to announce that with immediate effect 338 stores, 57 concessions, three distribution centres and the head office operations belonging to the Peacocks group will come into the EWM Group of companies, saving some 6,000 jobs, including 250 at the Cardiff headquarters.

“We look forward to working with our new colleagues to rebuild the business in what is a very tough economic environment for High Street retailers in the UK.”

Edinburgh Woollen Mill has a store in Market Place, Boston.

Mr Day added: “We do hope that there will be scope to save more jobs and stores from those being forced to close now due to performance issues and overhead pressures.

“As you can imagine, there will be a considerable amount of work to undertake over the next few months to stabilise the situation, turn this business around, get the supply chain moving again and excite the customers with great products.”

The cost of the purchase is undisclosed.