Date Posted: Friday 20th November 2020
High street fashion chains Peacocks and Jaeger have gone into administration, consequently putting more than 4,700 jobs at risk. It has been widely reported that this is due to the effect of the latest lockdown hampering efforts to find a buyer. Peacocks and Jaeger are both owned by EWM Group, which has reportedly taken the "desperately difficult" decision despite having been in "constructive discussions" with potential buyers in recent weeks.
Advisory firm FRP has been appointed to handle the administration of Peacocks and Jaeger. London-based Jaeger has 76 stores and concessions, employing 347 staff, while Cardiff-based Peacocks operates 423 stores with 4,369 staff, FRP said.
Tony Wright, joint administrator and partner at FRP, told Sky News: "Jaeger and Peacocks are attractive brands that have suffered the well-known challenges that many retailers face at present. We are in advanced discussions with a number of parties and working hard to secure a future for both businesses."
EWM Group had already placed its Edinburgh Woollen Mill and Ponden Home brands into administration earlier this month.
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