Jobs saved as Peats’ survival approved

The High Court has approved a survival scheme for electrical retailer Peats which reversed its decision to cease trading earlier this year.

The scheme involvesinvestment by the Peat family which will mean two of its 11 stores will continue to trade and a total of 27 jobs saved, the court heard.

Mr Justice Peter Charlton said he was happy to approve the scheme taking Peats World of Electronics out of examinership after hearing all conditions set down in an independent accountant’s report for its survival had been met.