News That Matters

Tag: Jaeger

4,700 jobs at risk as Peacocks and Jaeger go into administration

4,700 jobs at risk as Peacocks and Jaeger go into administration

Business
Fashion chains Peacocks and Jaeger have gone into administration - putting more than 4,700 jobs at risk after the latest lockdown hampered efforts to find a buyer.It came after owner EWM group, controlled by retail billionaire Philip Day, passed a deadline to sell the two brands - which between them have about 500 stores. The group said it had to take the "desperately difficult" decision despite having been in "constructive discussions" with potential buyers in recent weeks. Image: Jaeger has 76 stores "The continuing deterioration of the retail sector due to the impact of the pandemic and second lockdown have made this process longer and more complex than we would have hoped," it said.Talks were ongoing but a deadline imposed by the ...