Peacocks clothing chain plan to open shop in Stornoway
30 March 2023
The Peacocks fashion chain plans to move into the closure-
The new retail offering is scheduled to open to customers in the coming months.
M&Co is still trading from the Cromwell Street location but is due to announce provide its final shutting date very soon. Staff are being made redundant.
Peacocks is set to take up a lease of the premises and will fit out the shop with its own branding before opening. It previously operated in Stornoway within the Macaulay Road Co-
The company said it will offer quality, affordable fashion across womenswear, menswear and kidswear.
Part of the space on the two-
M&Co shops are beginning to shut across the country after the company went into administration.
All 170 stores are expected to pull down the shutters by the end of April under a rolling programme of closures as the last of shop floor clothing stock runs out.
The retailer’s website ceased accepting new orders on Friday.
No final date has been announced for the Stornoway store.
The majority -
The stores are not owned by M&Co but are rented from different landlords.
Trading for the clothing chain turned sour in 2022 following a profitable period the previous year as customers were cautious over spending cash in uncertain times as slow economic recovery, high inflation and the cost-
Overdue debts to suppliers were around £12 million and with one supplier set to seek a court order to wind up the firm for an unpaid bill of over £390,000, company directors pre-
Teneo was called in, initially for contingency financial planning November, before being nominated as administrators in December.
With all of its shop premises on lease stocks of clothing -
No serious interest in rescuing the business as a whole came forward.
However, the brand name and logos have been purchased by AK Retail Holdings, an east of England clothing group.
