Peacocks and Others Enter Administration
Peacocks, Jaeger, Austin Reed and Jacques Vert, slip into administration.
Jaeger has 76 stores and concessions along with 347 employees in the UK.
Cardiff-based Peacocks has 423 stores along with 4,369 staff across the UK.
Part of UK entrepreneurs Philip Day’s, Edinburgh Woollen Mill Group (EWM). They were put into administration before a legal deadline passed after rescue talks floundered.
Administrators at FRP announces no redundancies or permanent store closures. They announced the businesses would remain trading while they examine available options moving forward.
FRP partner, Tony Wright, joint administrator of the business. Stated, “Jaeger and Peacocks are attractive brands that have suffered the well-known challenges that many retailers face at present”.
More than 4,700 jobs though are now at risk.
The companies belong to Carlisle-based retail business Edinburgh Woollen Mill (EWM).
In February 2012, Peacocks was bought by the Edinburgh Woollen Mill Group.
On November 5th 2020, Anthony Wright and Alastair Massey of FRP Advisory were appointed Joint Administrators of Edinburgh Woollen Mill Limited.
It’s reported that EWM owner, Philip Day, expressed an interest to strike a pre-pack deal for Peacocks. However, no deal has yet been agreed.
Mike Ashley owner of Sports Direct, was supposedly considering an offer to buy Jaeger brand. However, no offer has been received.