High street stores are on the rocks

UNCERTAINTY surrounds the future of three retail stores in Oldham town centre.

The Peacock Group, which owns clothing chains Peacocks and Bonmarche, said it planned to place both businesses into administration.

The retailer — which has Bonmarche and Peacocks stores in Spindles shopping centre — said it made the decision after discussions with lenders over the future of the group broke down.

A potential buyer for the Bonmarche business, which has 394 stores, is being sought. Meanwhile the reportedly debt-ridden parent company will appoint an administrator.

The Cardiff–based retailer reportedly failed to persuade the banks to enter a deal. Barclays and RBS both said recently they had been supportive throughout the discussions.

Peacocks’ returns department is also based at Broadway Business Park in Chadderton.

Elsewhere in the sector, administrators of shoe chain Barratts Priceless Group said the existing management team had bought the majority of the business, saving 1,184 jobs but losing 680.

It is unknown whether the Priceless Shoes store in Oldham’s High Street — which closed before Christmas — will reopen.

Joint administrator Deloitte wasn’t able to comment on the possibility of stores returning.

Five Barratts and 13 Priceless Shoes stores closed across the UK and Ireland last month with the loss of 127 jobs. The shoe chain collapsed into administration last month.




MUSIC giant HMV is closing the doors to its “pop up” shop in the Spindles tomorrow.



Posters announcing its closure have appeared in the window of the store, which opened in November, nine months after the original outlet closed.

The shop, which sells music, films, books and computer games, had opened to take advantage of Christmas and New Year sales, but was under review as to whether it would remain open.