A MAJOR retail chain has been rescued from the jaws of death through a nationwide take-over, saving 19 jobs in Skegness.
Clothing company Peacocks called in the administrators in January, creating a cloud of uncertainty over the future of 611 UK stores, including its Lumley Road branch in Skegness.
Last Wednesday, high street rival The Edinburgh Woollen Mill Group announced it was stepping into the breach to takeover the Lumley Road branch along with 337 other stores nationwide.
Chamber of Skegness and District Chamber of Commerce Glenis Brown was thrilled to hear that the dismal prospect of another high street closure had been averted.
She said: “It’s absolutely fantastic that it’s going to be saved once again it helps maintain our reputation as a town with respectable retail occupancy rates and shows that lots of stores have faith in us - and long may they keep that faith.
“Businesses in this town are organising themselves together to work on improving the retail situation and I think there’s a growing feeling of optimism - we’ve got to keep a positive attitude.”
The Skegness store was selected for survival above less well performing stores throughout the group, indicating a healthier retail economy in the town, compared with other UK high streets.
EWM Group chairman Philip Day said: “We look forward to working with our new colleagues to rebuild the business in what is a very tough economic environment for high street retailers in the UK.”
The good news follows the positive conclusion of another potential store closure in the Peacocks Group announced two weeks ago.
Bonmarche was also rescued from the administrators when Sun European Traders bought 230 UK stores including one on Lumley Road which employs 10 people.
Skegness was recently listed as having the fourth best retail occupancy rates in the East Midlands.