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Business News

Peacocks ponders closing 200 stores

Peacocks, the ailing fashion retailer, is considering closing up to 200 stores, as it seeks to reduce its debt burden.

The group, which has 611 Peacocks stores and 394 Bonmarché shops, has debts of £240m with a syndicate of banks, including Goldman Sachs, Barclays and Royal Bank of Scotland. A Peacocks spokesman said: "We continue to progress our restructuring discussions and plans, with no decisions taken at this point."

Peacocks faces a huge rent bill on 25 December.