Job loss fears

THERE are fears of more job losses locally after it was announced that clothing retailer Peacocks has gone into administration.

Parent company, The Peacock Group, said it made the decision to appoint an administrator after it was unable to reach an agreement with lenders over financial restructuring.

There are fears a number of branches across Northern Ireland, including the store in Ballyclare, could close within a week if a buyer is not found.

“The Board of the Peacock Group and its advisers have been discussing for some time the restructuring of the Peacocks business with the Group’s lenders,” a statement from the company read.

“Unfortunately these talks have now concluded and no agreement has been reached. However, discussions with other potential investors are ongoing.

“To protect the business whilst discussions with such investors are progressed, the Directors of the Peacock Group have filed a notice of Intention to Appoint an Administrator. Existing management remain in place as an administrator has not been appointed.”