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22 February 2012, 18:58
Over 3,000 jobs are being lost after struggling fashion chain Peacocks was sold out of administration some in Greater Manchester.
The deal with Edinburgh Woollen Mill will save 388 shops and more than 6,000 jobs but administrators from KPMG said it had been forced to close 224 stores with immediate effect.
3,100 people have been made redundant. 2 stores are shutting in Manchester city centre as well as the one in Cheetham Hill. Shops in Stockport , Warrington, Wigan, Bury, Blackburn and Burnley are also closing.
Chris Laverty, joint administrator 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.''