workers at Cramlington’s Peacocks store are facing uncertainty over their jobs as the fashion chain’s parent company looks set to go into administration.
The Manor Walks store is one of more than 600 across the UK facing possible closure after bosses at the Cardiff-based chain announced on Monday that they planned to call in administrators.
The board of the Peacock Group has been in talks with lenders over the restructuring of the business for some time.
A spokesman for the chain said: “Unfortunately, these talks have now concluded, and no agreement has been reached.
“However, discussions with other potential investors are ongoing.
“To protect the business while discussions with such investors are progressed, the directors of the Peacock Group have filed a notice of intention to appoint an administrator.
“Existing management remain in place as an administrator has not been appointed.”