Poundland could pluck stores from stricken Peacocks

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Poundland is mulling over a bid for struggling high street fashion chain Peacocks.

“We will be casting our eyes over the Peacocks estate,” Poundland chief executive Jim McCarthy told the Financial Times. “We took more ex-Woolworths stores than anyone else.”

Other interested parties could include Tesco, Asda and Morrisons. All are focused on driving growth of smaller stores.

Administrator KPMG, which was appointed a week ago, insisted it remains hopeful of finding a buyer for the chain. However, some estimates suggest that 200 stores could still be forced to close even if a buyer is found.

Readers' comments (2)

  • Are Morrisons interested in Peacocks stores?

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  • Anonymous

    I think Morrisons should buy Peacocks. The clothing range is already being trialled in some new Morrisons stores.

    This could mean Morrisons selling a basic clothing in more stores at a lower cost, and if the shops are to close, some of the Peacocks estate could be converted into M Local convenience stores if the location meets requirements.

    The remainder of the estate could be sold off. Hopefully whatever the outcome, jobs can be saved. I do not know if Peacocks owns its stores or if it leases them.

    This all depends on whether Morrisons is prepared to spend more cash. 10 Best Buy leases have been taken over, to convert into Kiddicare stores, and Iceland is still in their sights.

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