- Huw Hughes |
Edinburgh Woollen Mill (EWM) Group’s Jaeger and Peacocks chains have fallen into administration.
Tony Wright and Alastair Massey, partners at advisory firm FRP, were appointed joint administrators on Thursday following efforts by management to secure a solvent sale of both businesses.
London-based Jaeger has 76 stores and concessions and 347 employees, while Cardiff-based Peacocks operates 423 stores with 4,369 staff.
No job cuts or store closures have been made on appointment.
“Jaeger and Peacocks are attractive brands that have suffered the well-known challenges that many retailers face at present,” Wright said in a statement. “We are in advanced discussions with a number of parties and working hard to secure a future for both businesses.”
EWM Group’s Jaeger and Peacocks appoint administrators
Earlier this month, EWM Group’s namesake brand EWM and homeware chain Ponden Home both fell into administration.
On appointment, 750 roles at EWM and 116 at Ponden Home were made redundant.
Administrators from FRP said at the time that 56 EWM stores and eight Ponden Home stores had permanently closed in recent weeks while the rest would continue to trade online and in stores subject to Covid-19 restrictions.
“Recent months have proven extremely challenging for many retailers, even those that were trading well before the pandemic, including the teams at EWM and Ponden Home,” Wright said at the time.
“The administrations will provide some further protection while we continue our search for buyers to secure the long-term futures for both businesses.”
Photo credit: Jaeger, Facebook