The future of a Lichfield store could be secured after a management buyout was launched for a fashion retailer.

The future of Peacocks had been at risk following the decision by owners Edinburgh Woolen Mill went into administration.

But a bid has now been put forward by one of the company’s senior eCommerce managers in partnership with a private investor.

A spokesperson said:

“The proposal sets out to purchase the full company, its employees and its stores, as well as promising to strengthen Peacocks’ digital offering.

“In addition to developing its online presence, their proposal also sets out to rejuvenate the in-store experience for Peacock’s long-established, loyal customer base.

“The team is confident that with the right investment, they can drive forward innovation, bring about brand recovery and achieve a quick return to financial sustainability.

“With plans for short-term investment coupled with longer-term reinvestment, they propose injecting a fresh sense of purpose into Peacocks, safeguarding its future in spite of the on-going challenges high street retailers across the UK are facing.”

Peacocks management buyout spokesperson