Management buy-out likely, says City analyst
Value fashion group Peacocks has received a preliminary bid approach. It is thought that managers, led by chief executive Richard Kirk, are interested in staging a management buy-out.
Management owns a 10 per cent share in the retailer. Peacocks, which was brought to the market by Kirk five years ago, operates the Peacocks, Bonmarché and Fragrance Shop fascias.
The management has considered a buy out before, in 2002. Evolution analyst Nick Bubb believes it is once again on the cards because the City doubts the staying power of the core business and there have also been problems with its Bonmarché subsidiary recently.
Bubb said: 'The management probably fancy their chances of proving the market wrong.'
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