Thursday 19 November 2020 3:46 pm

Jaeger and Peacocks collapse into administration, putting 4,700 jobs at risk

Fashion chains Jaeger and Peacocks have collapsed into administration, putting 4,700 jobs and almost 500 shops at risk.

The latest blow to the UK high street comes just weeks after the owner of both retailers began insolvency proceedings for sister brand Edinburgh Woollen Mill.

Read more: Ashley set to enter bidding war for Jaeger

Administrators have been unable to find a buyer for Jaeger or Peacocks, but said they were in “advanced discussions with a number of parties”.

FRP Advisory said no store closures or job losses will be made immediately.

Tony Wright, joint administrator and partner at FRP, 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.”

High street giant Edinburgh Woollen Mill entered administration earlier this month, in a move that has put more than 2,000 jobs at risk.

Jaegers and Peacocks were not affected by that administration process.

The firm, which is owned by billionaire businessman Philip Day, appointed FRP Advisory as administrators to its Edinburgh Woollen Mill and Ponden Home brands.

Read more: Edinburgh Woollen Mill administrators hail ‘strong performance’

750 Edinburgh Woollen Mill staff and 116 employees of Ponden Home were made redundant immediately. 

Both brands have continued to trade while the insolvency firm searches for a buyer, but the remaining 2,034 jobs are at risk. 

In recent weeks 56 EWM and eight Ponden Homes stores had already closed, before the firm entered administration.