Louth Peacocks store survives takeover

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LOUTH’S Peacocks clothing store has been saved, meaning job security for its team of 13 staff.

The store was plunged into uncertainty yesterday when the Edinburgh Woollen Mill group who also have a store in Eastgate, bought the chain, announcing 3,100 job losses and 224 store closures.

But today it has emerged that the store in Eastgate, Louth will remain open.

Philip Day, Chairman and Chief Executive of the Edinburgh Woollen Mill Group, said: “We look forward to working with our new colleagues to rebuild the business in what is a very tough economic environment for High Street retailers in the UK.”

It appears many of the store closures are those within larger towns and cities.

The cost of the takeover remains undisclosed.

For more on this breaking news story, keep checking www.louthleader.co.uk and see next week’s Leader.

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