Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

RBS Says Still in Talks With Peacocks Over Debt Restructuring

Jan. 16 (Bloomberg) -- Royal Bank of Scotland Group Plc, Britain’s biggest government-owned bank, said it is still in debt talks with U.K. clothing retailer Peacocks Stores Ltd.

“We have been and continue to be supportive of the company. New investors willing to inject sufficient capital could not be found,” RBS spokesman Erfan Hussain wrote in an emailed statement today. “Each company restructure is judged on its own merits, but clearly the difficult conditions retailers face is an important factor.”

Cardiff, Wales-based Peacocks, which has 240 million pounds ($368 million) of debt, may go into administration “within days,” Reuters reported today, saying RBS had withdrawn from the talks. The company has 611 Peacocks outlets and 394 Bonmarche stores in the U.K. and employs about 10,000 people, Reuters reported.

“We continue to progress our restructuring discussions and plans, with no decisions taken at this point,” Alex Brennan, a spokesman for Peacocks based at Hudson Sandler Ltd., said in an emailed statement.

To contact the reporter on this story: Katie Linsell in London at klinsell@bloomberg.net

To contact the editor responsible for this story: Colin Keatinge at ckeatinge@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.