Will MBO save the day

A management buy-out (MBO) proposal has been submitted to the administrators of fashion retailer Peacocks and if successful has the potential to prevent UK-wide store closures and save 4,908 people from redundancy.
By John A. MacInnes
Published 16th Dec 2020, 09:31 BST
Peacocks currently have a concession within the Co-op store in Stornoway.Peacocks currently have a concession within the Co-op store in Stornoway.
Peacocks currently have a concession within the Co-op store in Stornoway.

The bid from a senior eCommerce manager at Peacocks Stores Ltd in conjunction with a private investor, follows the announcement last month that Peacock’s parent company EWM Group had placed the company into administration.

The MBO proposal which sets out to purchase the full company, its employees and its stores, also promises to strengthen Peacocks digital offering with a clear plan of investment into developing the online side of the business.

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Given the proposed new owner has a strong digital background, it follows that their aim is to deliver a true omni-channel offering within the family value sector, prioritising a clear focus on good customer service. In addition to developing its online presence, their proposal also sets out to rejuvenate the in-store experience for Peacock’s long-established, loyal customer base.

Peacocks Stores Ltd employs 4,908 staff and has 470 stores and concessions across the UK, including the one in the Co-op in Stornoway.

The MBO team is confident that with the right investment, they can drive forward innovation, bring about brand recovery and achieve a quick return to financial sustainability.

Related topics:PeacockStornoway