BusinessBusiness RecoveryKPMG to review retailer Peacocks

KPMG to review retailer Peacocks

Low-budget fashion retailer Peacocks calls in KPMG to conduct an independent review

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.

Related Articles

EY hired by Carillion to review finances

Accounting Firms EY hired by Carillion to review finances

5m Alia Shoaib, Reporter
Over 800 jobs saved as Endless LLP acquires Jones Bootmaker

Business Recovery Over 800 jobs saved as Endless LLP acquires Jones Bootmaker

9m Emma Smith, Managing Editor
Administrators from KPMG appointed to City Motor Holdings

Business Recovery Administrators from KPMG appointed to City Motor Holdings

1y Richard Crump, Writer
FRP Advisory hires new partner from KPMG

Accounting Firms FRP Advisory hires new partner from KPMG

1y Richard Crump, Writer
Former Torex CEO sues KPMG and RBS

Accounting Firms Former Torex CEO sues KPMG and RBS

2y Richard Crump, Writer
BHS enters administration as Duff & Phelps fail to find suitable buyer

Accounting Firms BHS enters administration as Duff & Phelps fail to find suitable buyer

2y Fraser Simpson, Reporter
PwC questioned over BHS ‘going concern’ audit

Accounting Firms PwC questioned over BHS ‘going concern’ audit

2y Chris Warmoll, Writer
MPs hear from trio of Big Four firms over BHS advice

Accounting Firms MPs hear from trio of Big Four firms over BHS advice

2y Chris Warmoll, Writer