THE future of Peacocks clothing store in Alton High Street is in jeopardy following news that the Cardiff-based firm is searching for a new investor.

As from Tuesday Peacocks had 10 days protection from its creditors to find a new investor or it would go into administration with debts of £240m.

One of more than 600 stores operating in the UK, employing more than 10,000 staff, according to national press coverage, the chain reported a 17 per cent rise in like-for-like sales over Christmas.

While the Peacock Group, which includes the Bonmarche sister chain, is said to be trading profitably, the problem appears to be lack of confidence by the banks in current plans to restructure the company debt.

For full story, see this week's Alton Herald.