Peacocks to go into administration

The future of the Stornoway Peacocks store within the Macaulay Road Co-op is unclear this week as the Peacock Group have announced their intention to appoint an administrator.

A spokesperson for the company said today (Tuesday): “The Board of The Peacock Group and its advisers have been discussing for some time the restructuring of the business with the Group’s lenders.

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