Philip Day seeks valuation of Peacocks

Retail tycoon Philip Day is reportedly launching a valuation process for discount retail chain Peacocks.

The Sunday Times reported that Day appointed advisory firm FRP to find potential buyers for Peacocks and Edinburgh Woollen Mill, though sources close to the matter have stressed the process is merely a valuation and only concerns Peacocks. If anything were to come of the process, it would reportedly be on a straightforward solvent basis.

Peacocks operates from 550 stores and concessions and has 11,000 employees. It was bought out of administration by Day in 2012.

Photo credit: Peacocks, Facebook