The Peacocks store on Holton Road has been saved for the time-being, as a senior executive backed by an international consortium will take over the nation-wide business.

Chief operating officer Steve Simpson will take over the collapsed fashion chain, saving 2,000 jobs and 200 stores, which he hopes will reopen once Coronavirus restrictions permit.

Peacocks was part of the Edinburgh Woollen Mill (EWM) fashion empire, owned by Philip Day, which collapsed in November last year.

Administrators FRP negotiated a deal between Mr Day, who was the biggest creditor of Peacocks, and a consortium of investors which will eventually see him get the money he is owed from the company.

The consortium of international backers is primarily based in Dubai, where Mr Day lives.

A similar deal was agreed for the EWM and Bonmarché brands and Mr Day's other brand, Jaeger, has been sold to Marks & Spencer to become an online-only business.