Around 6,000 jobs have today been saved following the sale of Peacocks to Edinburgh Wollen Mill. The news will come as a fresh sign of relief to the thousands of staff that have until now been facing an uncertain future at the chain.  However the sale does come at a price, the price being around 3100 job losses.

It is understood that included in the 6000 saved jobs are that of around 250 at their Cardiff based head office, three distribution centres, 338 stores and over 50 concessions.

It is understood that 224 stores will now cease trading with the immediate effect however it is not yet known which stores have been saved as part of the sale.

In a statement issued by Richard Fleming, Chris Laverty, Ed Boyle and Joff Pope of KPMG, joint administrators of Peacocks, said that Edinburgh Woollen Mill, has acquired the Peacocks brand, 388 stores and concessions, as well as the business' head office and logistics functions in Wales. The deal has protected around 6,000 jobs in the UK