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Peacocks talks at crucial stage

Hopes are fading this morning (Thursday) for a rescue deal for retailer Peacocks.

The clothing chain has fallen into administration, putting around 9,600 jobs at risk.

KPMG has been appointed administrator to the company, which owns 611 stores and 49 concessions across the UK.

It also has two shops in Douglas, at Shoprite in Victoria Road and in the Strand Shopping Centre.

All the stores will stay open as a buyer is sought.

If an investor can't be secured, it would be the biggest collapse in the UK retailing sector since Woolworths in 2008.

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