AT least 60 jobs are being axed and four stores closed in the Bristol area following the collapse of the Peacocks fashion chain.

Peacocks went into administration last month.

A deal was done yesterday to save part of the business but at least four of the chain's ten stores in the Bristol area will close under the rescue package put together by new owner the Edinburgh Woollen Mill company.

Peacocks' Yate branch closed suddenly yesterday, with the loss of 14 jobs. Other stores in Bristol city centre, Nailsea and Bradley Stoke are among 224 to cease trading immediately under the takeover plan.

A total of 388 shops have been kept open. The deal has led to 3,100 redundancies but 6,000 jobs have been saved.

Administrators from accountancy firm KPMG said six other local branches, including those in Portishead, Keynsham and Bedminster, would remain open.

Staff were told the bad news yesterday after the details of the rescue plan were finalised.

It is only two-and-a-half years since Peacocks opened in the former Woolworth store in Yate Shopping Centre, moving into the unit after the collapse of the long-established high street name.

A branch of women's wear store Bonmarche, which had been part of the Peacocks group, opened at the same time and that has remained trading after the chain was sold separately.

Chris Laverty, joint administrator at KPMG, said: "Today's deal ensures the continued trading of a well-known name on the high street.

"While it is unfortunate that redundancies have been necessary, we are pleased that we have been able to preserve the majority of the business and jobs."

Edinburgh Woollen Mill, which has 380 stores of its own, beat off Indian textile and clothing giant Kumars Nationwide to seal the deal. It will keep Peacocks' Cardiff headquarters.