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Peacocks receives four bids in second round

Peacocks administrator KPMG has received four second round bids to buy the business, or parts of it, out of administration, it is understood.

The administrators do not expect to reach a decision on a preferred bidder until “early next week”.

The number of bidders in the running has dropped from six in the first round and are understood to be a mixture of trade and private equity firms.

Textiles tycoon Alshair Fiyaz is thought to have teamed up with Danish investment fund Solstra Capita to launch a bid. It is understood he is working with the Peacocks’ management team, including managing director Tim Bettley.

Peacocks collapsed into administration last month after boss Richard Kirk was unable to secure a deal with its banks. Around 600 stores and 7,500 jobs currently hang in the balance as KPMG seeks a buyer.

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