Business

Peacocks and Jaeger fall into administration, threatening 4,700 jobs

High street fashion retailers Jaeger and Peacocks have fallen into administration, putting more than 4,700 jobs at risk.

Bosses at the Edinburgh Woollen Mill Group, which owns both brands, failed to secure new buyers within a two-week deadline.

“Jaeger and Peacocks are attractive brands that have suffered the well-known challenges that many retailers face at present,” said joint administrator Tony Wright, from FRP Advisory.

“We are in advanced discussions with a number of parties and working hard to secure a future for both businesses.”

No redundancies have been announced yet and no stores closed.

More follows…

Source:

www.independent.co.uk

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