4,700 jobs at risk
Peacocks and Jaeger plunge into administration
More shops likely to shut
Another 500 shop units could close after fashion chains Peacocks and Jaeger plunged into administration, putting more than 4,700 jobs at risk.
Owner Edinburgh Woollen Mill Group’s advisers said talks are continuing with potential buyers. Austin Reed and Jacques Vert are also in administration.
Tony Wright, joint administrator of the business from FRP Advisory, said: “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.”
It comes two weeks after Carlisle-based Edinburgh Woollen Mill called in administrators for its eponymous clothing chain and its homeware brand Ponden Home, putting 2,900 jobs at risk.
The group, which is owned by billionaire Philip Day and has its origins in Edinburgh, managed to secure a temporary court order that gave a lifeline to Peacocks and Jaeger but that has now expired.
Jaeger has 76 stores and concessions and employs 347 staff. Cardiff-based Peacocks operates 423 stores with 4,369 staff.