Peacocks denies refinancing deal

Peacocks has denied refinancing rumours

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Peacocks chief executive Richard Kirk has denied reports that the value chain is in talks with banks over refinancing its debt.

According to reports Peacocks is looking for more flexibility from banks in order to ramp up its expansion plans. However Richard Kirk told Drapers the rumours were "rubbish" and added, "The business is healthy."

Peacocks said earlier this year that it planned to double its store portfolio to 1,000 shops.

The Peacock Group, which includes the Bonmarché chain, saw EBITDA rise 22% to £76 million for the year to March 31, 2007 against EBITDA of £62m the year before.