Peacocks store saved
FIFTEEN shop workers at a popular fashion store in Weston have kept their jobs after part of the Peacocks chain was taken over yesterday (Wed).
The Mercury announced last month the low-price clothing store had gone into administration after racking up debts of �240million.
But staff were told yesterday the Alexandra Parade will remain open after a deal to save part of the business under a rescue package was put together by new owner, the Edinburgh Woollen Mill company.
The Portishead store in Wyndham Way, is also one of 388 staying open.
But the Nailsea town centre shop closed, making 10 workers redundant.
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The shop, in Somerset Square, was among 224 which ceased trading immediately under the takeover plan.
The deal has led to 3,100 redundancies but 6,000 jobs have been saved.
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Administrators from accountancy firm KPMG said staff were told yesterday.
A KPMG spokesman said: “The deal ensures the continued trading of a well-known name on the high street.
“While it is unfortunate that redundancies have been necessary, we are pleased that we have been able to preserve the majority of the business and jobs.”
Edinburgh Woollen Mill, which has 380 stores of its own, beat off Indian textile and clothing giant Kumars Nationwide to gain control of the ailing company.