Edinburgh Woollen Mill, who bought Peacocks out of administration last month for £23 million have said they will invest £120 million into the retailer over the next two years, as they look to restore confidence in the value apparel brand.
Philip Day, chief executive and owner of Edinburgh Woollen Mill, told the BBC that they will be investing heavily into the supply chain, IT, infrastructure and stock, as well as re-opening 40 of the 234 stores that were forced to close as part of the administration process.
The first of these stores will be Cardiff’s flagship Peacocks store in the centre of town, which is thought to provide 400 jobs for the UK.
According to the BBC, recruitment has also begun for 50 positions within Peacock’s Cardiff headquarters.
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