Peacocks Administrtion

[pompeyfaith]

Re: Peacocks Administrtion

There you go

During the following years Peacocks continued to establish itself as a value-for-money retailer. From the mid 1990s onward Peacocks experienced significant development and growth and a greater emphasis on fashion, which helped to propel the brand to even greater success in today's market.
1997 - Richard Kirk (Chief Executive) lead a management buy-out.

1999 - Peacocks floated on the London Stock Exchange.

2002 – The Peacock Group acquired value retailer Bonmarche.

2004 – The Peacock Group opened its first international store in Bahrain.

2006 – Peacocks delisted from the Stock Exchange to once again become a privately owned business.

2008 – Peacocks exceeds 500 stores in the UK.

2009 – Peacocks continues to open stores in the UK and abroad. Through collaboration with fashion designer Pearl Lowe. Peacocks continues to strengthen its fashion credentials.

[PriorityOne]

Re: Peacocks Administrtion

Sorry that will be going to as it is part of Peacocks.

Oh my.... never realised they were part of Peacocks!!

There'll be nothing much left at all where I live then.....

WTF is going on?! All of these downward spiral changes are too much.... my little town will consist of pharmacies, mobile phone and charity shops... and pawn shops... and even porn shops (there are two!) S'pose the last one gives people something to do on a rainy day though....

Jokes aside though..... it's DEPRESSING!!

[pompeyfaith]

Re: Peacocks Administrtion

Yup the high street is in decline unless you are in a big city, where I live it is the same with two pawn brokers, a chq cashing shop, plenty of charity shops and a couple of discount stores like the 99p kind that is it plus a tesco's.

Used to be very vibrant with many different specialist shops and was worth just going there to if nothing else have a look around.

All out of town now and that trend seems to continue.

[roomtobreathe]

Re: Peacocks Administrtion

Bon Marche have not entered administration according to the BBC News.

Damned if I know what that means though!

[pompeyfaith]

Re: Peacocks Administrtion

Looks like the Admin is still a grey area as skynews says different:

http://news.sky.com/home/business/article/16150393

[pompeyfaith]

Re: Peacocks Administrtion

My understanding is that Peacocks are profitable but the interest on loans is bringing them down.

3 Banks are involved, 2 banks are willing to refinance the company, 1 Bank RBS are not so RBS are pulling the plug over something less that £100 million as "they don't want to operate in the retail sector" Now WE OWN THIS BANK and 16000 people and £100 million works out at just over £6k per person. As "shareholders" and underwriters of this bank couldn't the government put some pressure on the bank to rethink rather than let Peacocks go under, most of OUR £100 million be lost and dole money paid out at a rate of about a million pounds a week not forgetting redundancy pay and the like.

Just for once I would like to see the government use a bit of judgement and look at saving a chunk of these jobs if only by reminding RBS that they expect them to act in a manner suitable for a state owned company

[di30]

Re: Peacocks Administrtion

Di,

They are good fashionable and cheap, they took over the BHS store in pompey and have a very big range in there.

Not sure how big the Cardiff store is but being the capital of wales I would imagine large too.

Definately worth checking it out PF, and from what I can see the clothing looks fab and of good quality.

I am so happy you directed me to this store, thank you.

[CleverClogs (RIP)]

Re: Peacocks Administrtion

My understanding is that Peacocks are profitable but the interest on loans is bringing them down.

3 Banks are involved, 2 banks are willing to refinance the company, 1 Bank RBS are not so RBS are pulling the plug over something less that £100 million as "they don't want to operate in the retail sector" Now WE OWN THIS BANK and 16000 people and £100 million works out at just over £6k per person. As "shareholders" and underwriters of this bank couldn't the government put some pressure on the bank to rethink rather than let Peacocks go under, most of OUR £100 million be lost and dole money paid out at a rate of about a million pounds a week not forgetting redundancy pay and the like.

Just for once I would like to see the government use a bit of judgement and look at saving a chunk of these jobs if only by reminding RBS that they expect them to act in a manner suitable for a state owned company

RBS deserves a damn good kicking.

[Handyman]

Re: Peacocks Administrtion

I for one don't want to see Peacocks go. The only fault with them is they don't do jeans for men of a certain age. I meann who over 20 wants to go round with the gusset round their knees and their ass hanging out.

Seriously the RBS is still Tax payer owned. It make good financial sense to keep all these people employed. Has Peacocks defaulted? then why does the bank want to pull the plug and lose money?

Methinks some ass kicking is in order

Handy.

[pompeyfaith]

Re: Peacocks Administrtion

Handy,

Indeed as I have said above with the total cost implications surely it must be cheaper for the government to keep them going even if it means putting someone in to oversee the running of the business.

Surely from that they will be able to find out why they are were they are and make recommendations on how to make it a sound business.

[Never-In-Doubt]

Re: Peacocks Administrtion

I think our Gvt has spent enough wasted cash without buying up stores - sorry to say but these same stores were raking it in for the last god knows how many years, and now it's their time to pay the reaper a visit like oh so many of us here have......

I'm not one for bail outs myself, certainly not by the governement.....

[pompeyfaith]

Re: Peacocks Administrtion

I think our Gvt has spent enough wasted cash without buying up stores - sorry to say but these same stores were raking it in for the last god knows how many years, and now it's their time to pay the reaper a visit like oh so many of us here have......

I'm not one for bail outs myself, certainly not by the governement.....

Nor am I, however I certainly hope they at least look into it and compare the cost of supporting them a bit in the short term against the cost of the business folding.

It does not need Government cash just that RBS extend there credit facility and putting someone in there to oversee and make recommendations as to turning the business around

[CleverClogs (RIP)]

Re: Peacocks Administrtion

Surely from that they will be able to find out why they are were they are and make recommendations on how to make it a sound business.

I suspect that Peacocks may have overextended themselves at a time when their sector of the clothing market was becoming less profitable.

[garlok]

Re: Peacocks Administrtion

Another example really of rank bad management really. Of course the problem is that its the little guy who is going to pay the price and its the little guys who are out of work.

Has the board received THEIR golden handshakes to go? I bet they got all that money out on some premise before the administrators took up position. Perhaps all of their assets should be seized first to bolster up the debt they owe to RBS and inherently---- US!

regards
Garlok

[CleverClogs (RIP)]

Re: Peacocks Administrtion

Has the board received THEIR golden handshakes to go? I bet they got all that money out on some premise before the administrators took up position. Perhaps all of their assets should be seized first to bolster up the debt they owe to RBS and inherently---- US!

In the same way that 'Sir' Fred Goodwin lost his pension when RBS went bust?