MORE than 40 jobs in North Yorkshire have been saved as troubled retailer Peacocks was sold to Edinburgh Woollen Mill.

Stores in Clifton Moor, York, Acomb, Selby, and Harrogate, which employ 41 people between them, were sold as part of the deal, which included 388 stores and concessions, as well as the business’ headquarters and logistics functions in Wales.

Administrators KPMG said the deal protected about 6,000 jobs in the UK. But the remaining 224 stores were not included in the sale and ceased trading with immediate effect, resulting in 3,100 redundancies. There will also be about 16 redundancies at the headquarters in Cardiff.

Chris Laverty, joint administrator and restructuring partner at KPMG, said: “Today’s deal ensures the continued trading of a well known name on the high street. While it is unfortunate that redundancies have been necessary, we are pleased that we have been able to preserve the majority of the business and jobs.

“Like many other retailers, Peacocks suffered from a decline in consumer spending due to the tough economic conditions and this, combined with a surplus of stores and unsustainable capital structure led to the business becoming financially unviable. However, a strong brand presence and loyal customer following meant that Peacocks attracted a great deal of interest from both trade and private equity bidders, leading to today’s successful sale.”