Peter's company, Ingram's Textiles in Rochdale Road, had occasionally put in orders from Baldwin's curtain factory in Coronation Street and so when Mike sold up only to lose most of the money in a property scam, he turned to Peter, asking if there was any work he could take off his hands. Being led to believe that he still had a factory, Peter ordered 1000 travel bags from Mike, paying him £2 a bag. He learned the truth - that Ivy Brennan and Alma Sedgewick were making up the bags in their homes - from Don Brennan when he paid a visit to Coronation Street in his Porsche only to see building work taking place where the factory had once stood.
After the order had been completed, Peter was approached by Ivy and Emily Bishop, who had learned that Mike was only paying his workers 25% of what Peter was paying for each bag and decided to form a workers' cooperative, making up the bags for Peter and cutting Mike out. Liking the thought of seeing Mike without a smile on his face, Peter accepted their offer of £1.30 a bag and ordered another 1000 from them. However, when Mike realised what had happened he contacted the travel agency directly and offered them a cheaper deal than they had with Ingram's, resulting in them pulling out of their rolling contract. Confronting Mike, Peter remained civil as he accused him of doing it just to win.
A few weeks later, when Mike's factory in Jim's Cafe flat was shut down by the health department, Peter summoned him to a meeting and offered him a job as a salesman, appreciating that despite their previous differences Mike was skilled and, as he was desperate for work, he could employ him on the cheap. To protect himself, Peter made Mike sign a contract forbidding him from setting up in business in the same lines as Peter or using his contacts for five years. For five months, Peter's gamble paid dividends, with Mike behaving himself once Peter had warned him to stop telling people he was Peter's partner in the business - a fact which was again brought to his attention by Don Brennan when Don picked up Peter in his taxi.
By August, Mike was getting itchy feet and set up his own company, Phoenix Fabrics, intending to install a manager as the company's de facto boss with only his senior staff aware that he was involved. Peter found out about this almost straight away and sent his wife Jackie to be interviewed by Mike for the manager's job, using the surname "Williams" so he wouldn't get suspicious. Having Mike under a barrel, Peter invited him and Alma to dinner at his home, 17 Elmgate Gardens, to introduce them to Jackie. Rather than fire Mike, Peter moved him inside the factory as work's manager where he could keep an eye on him, threatening to sue him for every penny he had if he tried it again.
As ever, Mike instantly started planning his rise back to the top, making himself indispensable in his new position despite hating it. Alone with Mike during a late night session at the factory, Ingram told him that he knew he was aiming to replace Ralph Dobson as his number two and bluntly remarked that he'd rather have a boa constrictor under him. As their argument became heated, Peter suddenly dropped to the floor with a heart attack. He was rushed to hospital but despite their doctors' efforts he died the next day. His death stunned friends and colleagues, with Mike telling Alma that the Scot had been a fitness freak who barely drank alcohol, played golf and squash, and ran two miles every morning. Jackie was particularly devastated, and considered selling the factory until Mike convinced her to run it. A month after his death, Jackie's memories of her husband were forever tarnished when his secretary Sandra Rogers, upon her sacking after a clash with Mike, scornfully admitted to an 18-month long affair with Peter.