Goldman Sachs is in talks to take control of value fashion chain Peacocks.
The investment bank is discussions to become the majority shareholder as part of plans to reduce Peacocks’ £240m debt pile.
According to The Sunday Times, discussions are complicated by the fact that the bank already holds a large share in the company, alongside American hedge funds Och-Ziff and Perry Capital.
Goldman is expected to ask Peacocks’ senior lenders to roll over its existing debt. Och Ziff and Perry will be offered a small slice of equiy in the restructured business, it is understtod.