Limavady Peacocks store saved in buy-out

The Peacocks store in Limavady has been saved in a buy-out, with all 12 jobs secure.

The Market Street store is one of only 10 Peacocks’ shops in the North that will remain open, while 19 will close, a move which leaves 263 people without a job.

President of the Roe Valley Chamber of Trade, Philip Kingston said: “Obviously we are delighted these jobs have been saved. The store occupies major prominence within the town centre so it is good news it will remain open.

“The Chamber was always of the view because the Limavady store was a profitable one it would be kept open and hoped the store and the jobs would be secure. We’re delighted; it’s good news.”

In all, the deal with Edinburgh Woollen Mill will save 388 shops and more than 6,000 jobs across the UK.

Administrators from KPMG said it had been forced to close 224 stores with immediate effect. A total of 3,100 redundancies will be made UK wide.

Three stores in Belfast will close - including a flagship branch in Donegall Place opened in October 2010 - two in Bangor and others in every corner of Northern Ireland from Derry, Coleraine to Cookstown and Ballyclare.

Peacocks collapsed under a debt mountain last month in the biggest retail failure since Woolworths.

Limavady Mayor Sean McGlinchey said news the Limavady store remains open is good for the town.

“The last thing Limavady needed was more job losses, so this is welcome news and I’m sure a huge relief for the people working at the store,” he said. “It must have been an uncertain time for the staff, but thankfully their jobs and the store have been saved.”

East Derry Sinn Fein MLA, Cathal O’hOisin said: “For 19 stores to close is a big blow, but fortunately for Limavady and the 12 people employed there the store will stay open. It’s good news.

“Every single job is worth fighting for and keeping. It will be somewhat of a relief for the staff; 12 jobs are significant because right now it is a job by job fight.”

The assemblyman added: “I would hope in the next few weeks to have a number of minor announcements that collectively could make a difference, including 40 jobs at a factory in the Foreglen.”