FOURTEEN staff at Spalding clothing store Peacocks are waiting to hear if their jobs are safe following news that the group is planning to call in the administrators.
Peacocks, which employs 10,000 people throughout the UK, is in talks over its £240m debts because it has been reported that banks are refusing to provide further working capital.
Latest news is that UK business secretary Vince Cable has been urged to take action to help save the company, which also owns Bonmarche – a potential buyer is reportedly already on board for this clothing chain.
Peacocks has experienced “spectacular growth” over the past 15 years, but is saddled with debts dating back to a management buy-out.
Discussions with other potential investors are continuing.