KPMG HAS BEEN called to retailer Peacocks to conduct an independent review amid fears the business may breach banking covenants.
The low-budget women’s clothing retailer is facing pressure from its banks including Lloyds to restructure its debts, The Daily Telegraph reports.
Goldman Sachs was one of a number of companies to back a £400m management buy-out of the business in 2006, led by Peacocks CEO Richard Kirk.
In 2010 Peacocks had pre-tax losses of £56.7m and reported borrowings of £647m.
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies
Smith & Williamson has been appointed administrators of charity 4Children