Nearly 5,000 jobs at risk as UK fashion chains face closure

  • Around 4,700 jobs are at risk as the struggling Edinburgh Woollen Mill Group said Thursday it had failed to find a buyer for its fashion chains Peacocks and Jaeger.
  • UK fashion sales have plummeted during the pandemic, and England’s second national lockdown, which means all non-essential stores have to shut, could make this even worse.
  • The administrators in charge of the chains remain hopeful that a deal can be secured, and added that said no redundancies or store closures have been confirmed yet.
  • Visit Business Insider’s homepage for more stories.

Nearly 5,000 jobs are at risk after the owner of British fashion chains Peacocks and Jaeger said Thursday it had failed to find a buyer for the troubled businesses, as the industry continues to struggle with dwindling sales amid the coronavirus pandemic.

The two chains, which are owned by the struggling Edinburgh Woollen Mill Group (EWM) retailing empire, have been put into a form of bankruptcy protection after a two-week deadline to find a buyer passed.

A spokesperson for EWM said the deterioration of the retail sector during the current, second lockdown in England had made the sale process “more complex” than hoped. During the lockdown, which is due to last until December 2, all shops selling items deemed as non-essential, such as clothes and books, have been required to close.

As a result, the spokesperson said the company could no longer extend a so-called standstill arrangement that Britain’s High Court first imposed six weeks ago and allows the chains to carry on doing business.

“Therefore, as directors, we have taken the desperately difficult decision to place Peacocks and Jaeger into administration while those talks continue,” the spokesperson said.

The administrators put in charge of the chains remain hopeful that a deal can be secured.

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

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

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Cardiff-based Peacocks operates 423 stores with 4,369 staff, while Jaeger runs 76 stores and concessions and employs 347 staff.

The administrators said no redundancies or store closures have been confirmed yet.

EWM Group had already placed its Edinburgh Woollen Mill and Ponden Home businesses into administration earlier this month.

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Fashion chains Peacocks and Jaeger fall into administration



a person standing on a sidewalk: MailOnline logo


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Fashion chains Peacocks and Jaeger have today fallen into administration, putting more than 4,700 jobs and almost 500 shops at risk.

Thousands of jobs have been put in peril after bosses at clothing chains Peacocks and Jaeger failed to find a buyer for the troubled businesses.

The two companies were put into administration this afternoon after a two-week deadline to find a buyer passed.



a person standing on a sidewalk: Thousands of jobs have been put in peril after bosses at clothing chains Peacocks and Jaeger failed to find a buyer for the troubled businesses. Pictured, a Peacocks store in Cardiff


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Thousands of jobs have been put in peril after bosses at clothing chains Peacocks and Jaeger failed to find a buyer for the troubled businesses. Pictured, a Peacocks store in Cardiff

Earlier this month, a spokesperson for owner EWM Group said they had been speaking to several potential buyers who were interested in parts of the business.

Jaeger runs 76 stores and concessions and has 347 employees while Cardiff-based Peacocks has 4,369 staff across 423 stores.

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.’

No redundancies have been announced yet and no stores closed.

How nearly 219,000 job losses have been revealed by major UK firms since lockdown began 

Some 215,471 job losses have been announced by major British employers since the start of the coronavirus lockdown in March as follows:

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Over 4,700 jobs at risk as UK fashion chains seek rescue

LONDON (AP) — Over 4,700 jobs are at risk after the owner of British fashion chains Peacocks and Jaeger said Thursday it had failed to find a buyer for the troubled businesses, which like others in the sector are reeling from the coronavirus pandemic.

The two chains, which are owned by the struggling EWM retailing empire, have been put into a form of bankruptcy protection after a two-week deadline to find a buyer passed.

A spokesperson for EWM said the deterioration of the retail sector during the current, second lockdown in England had made the sale process “more complex” than hoped. During the lockdown, which is due to last until Dec. 2, all shops selling items deemed as non-essential, such as clothes and books, have been required to close.

As a result, the spokesperson said the company could no longer extend a so-called standstill arrangement that Britain’s High Court first imposed six weeks ago and allows the chains to carry on doing business.

“Therefore, as directors, we have taken the desperately difficult decision to place Peacocks and Jaeger into administration while those talks continue,” the spokesperson said.

The administrators put in charge of the chains remain hopeful that a deal can be secured.

“Jaeger and Peacocks are attractive brands that have suffered the well-known challenges that many retailers face at present,” said Tony Wright, joint administrator and a partner at business advisory firm FRP Advisory. “We are in advanced discussions with a number of parties and working hard to secure a future for both businesses.”

Cardiff-based Peacocks operates 423 stores with 4,369 staff, while Jaeger runs 76 stores and concessions and employs 347 staff.

The administrators said no redundancies or store closures have been confirmed yet.

EWM Group had already placed its Edinburgh Woollen Mill and Ponden Home businesses into administration earlier this month.

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Nearly 5,000 Jobs at Risk as UK Fashion Chains Face Closure | Business News

LONDON (AP) — Nearly 5,000 jobs are at risk after the owner of British fashion chains Peacocks and Jaeger said Thursday it had failed to find a buyer for the troubled businesses, which like others in the sector are reeling from the coronavirus pandemic.

The two chains, which are owned by the struggling EWM retailing empire, have been put into a form of bankruptcy protection after a two-week deadline to find a buyer passed.

A spokesperson for EWM said the deterioration of the retail sector during the current, second lockdown in England had made the sale process “more complex” than hoped. During the lockdown, which is due to last until Dec. 2, all shops selling items deemed as non-essential, such as clothes and books, have been required to close.

As a result, the spokesperson said the company could no longer extend a so-called standstill arrangement that Britain’s High Court first imposed six weeks ago and allows the chains to carry on doing business.

“Therefore, as directors, we have taken the desperately difficult decision to place Peacocks and Jaeger into administration while those talks continue,” the spokesperson said.

The administrators put in charge of the chains remain hopeful that a deal can be secured.

“Jaeger and Peacocks are attractive brands that have suffered the well-known challenges that many retailers face at present,” said Tony Wright, joint administrator and a partner at insolvency firm FRP Advisory. “We are in advanced discussions with a number of parties and working hard to secure a future for both businesses.”

Cardiff-based Peacocks operates 423 stores with 4,369 staff, while Jaeger runs 76 stores and concessions and employs 347 staff.

The administrators said no redundancies or store closures have been confirmed yet.

EWM Group had already placed its Edinburgh Woollen Mill and Ponden Home businesses into administration earlier this month.

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