Jaeger and Peacocks enter administration
The Jaeger and Peacocks fashion chains have entered administration after their owner Edinburgh Woollen Mill was unable to find a buyer for the businesses.
The news means that 4,700 jobs and 500 stores have been put at risk, although no job losses have been announced at present.
Tony Wright and Alastair Massey, partners at FRP, have now been appointed as joint administrators and will continue to market the companies in the hope of securing a sale.
Edinburgh Woollen Mill said: “In recent weeks we have had constructive discussions with a number of potential buyers for Peacocks and Jaeger.
“But the continuing deterioration of the retail sector due to the impact of the pandemic and the second lockdown have made this process longer and more complex than we would have hoped.
“Therefore as directors we have taken the desperately difficult decision to place Peacocks and Jaeger into adminstration while these talks continue.”
Peacocks has 423 stores across the UK while Jaeger operates 76 shops and concessions.
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