- Posted by: Joyce Watson MS
- Category: Feature
Commenting on the news that Welsh clothing firm Peacocks is searching for new investors to back the business, Mid and West Wales AM Joyce Watson said:
“The stakes are huge – thousands of jobs are in the balance. The banks must prove that they can behave responsibly, especially a bank that tax payers bailed out.
“Peacocks stores have been at the heart of the High Street for many years, and it is a profitable business. The problem is the company’s levels of debt.
“There are 60 stores in Wales, including Pembroke Dock, Aberystwyth, Haverfordwest, Cardigan, Llanelli, Carmarthen, Cross Hands, Fishguard, Milford Haven, Tenby and Ammanford, so the future of the company is massively important to the region.
“Alongside the impact closures would have on their High Streets, their affordable fashion would be missed by many in the current economic situation.”
Speaking in the Assembly today, Mrs Watson, who sits on the Assembly’s Enterprise and Business Committee, said:
“At this stage, Peacocks has a 10 day window to find buyer. It is important for all to stay positive, and for the company to keep staff in the loop.”