Collapsed clothing chain Peacocks is set to be bought by one of its former bosses.
Steve Simpson, the former right-hand man of discount fashion tycoon Philip Day, is closing in on a deal to snatch the chain from under the nose of Sports Direct billionaire Mike Ashley.
Simpson is thought to be in talks with landlords and suppliers to Peacocks aiming to reopen some of the budget fashion chain’s 500-plus shops this month.
A deal would reunite Peacocks with the Edinburgh Woollen Mill and Bonmarché chains which were bought by Purepay Retail, a new entity led by Simpson and backed by Day, who has taken security over its assets.
