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Mumbai-based S. Kumars Nationwide Ltd. (514304.BY) is the
front-runner to buy discount fashion chain Peacocks out of
administration, with a deal expected over the next week, the Sunday
Times reports, without identifying sources.
The Indian textile and clothing manufacturer is one of several bidders reportedly interested in Peacocks. Others include Edinburgh Woollen Mill and Pakistani textile billionaire Alshair Fiyaz, who is reported to be working with Danish private equity fund Solstra Capital Partners.
Any deal is unlikely to save all Peacocks stores and the situation remains "delicate," the Sunday Times adds, citing a source.
Peacocks, which has 611 branded stores across the U.K. and employs close to 10,000 people, went into administration in January with roughly GBP750 million of debt after losing the support of key backer Royal Bank of Scotland Group PLC (RBS).
Three weeks ago, Peacocks' Bonmarche branded stores were bought for GBP10 million by Sun European Partners, which said it will keep 230 Bonmarche stores open and close around 160 other stores.
The Indian textile and clothing manufacturer is one of several bidders reportedly interested in Peacocks. Others include Edinburgh Woollen Mill and Pakistani textile billionaire Alshair Fiyaz, who is reported to be working with Danish private equity fund Solstra Capital Partners.
Any deal is unlikely to save all Peacocks stores and the situation remains "delicate," the Sunday Times adds, citing a source.
Peacocks, which has 611 branded stores across the U.K. and employs close to 10,000 people, went into administration in January with roughly GBP750 million of debt after losing the support of key backer Royal Bank of Scotland Group PLC (RBS).
Three weeks ago, Peacocks' Bonmarche branded stores were bought for GBP10 million by Sun European Partners, which said it will keep 230 Bonmarche stores open and close around 160 other stores.