Peacocks and Jaeger collapse into administration

Almost 4,800 jobs and 500 shops are at risk after news that  Peacocks, Jaeger, Austin Reed and Jacques Vert have collapsed into administration.

The retailers are owned by the Edinburgh Woollen Mill Group, which warned last month that it was on the brink of collapse.

The Edinburgh Woollen Mill Group has said that the pandemic has led to its collapse, however, it is still in talks with potential buyers.

Edinburgh Woollen Mill Group said: “In recent weeks we have had constructive discussions with a number of potential buyers for Peacocks and Jaeger but 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.

“Therefore, as directors, we have taken the desperately difficult decision to place Peacocks and Jaeger into administration while those talks continue. We will continue to do all we can to support FRP advisory in trying to secure the best outcome possible for these businesses.”

As of yet, no stores have been closed and no redundancies have been announced.

Edinburgh Woollen Mill (EWM) is owned by Philip Day, who is rumoured to want to save the brands Peacocks and Jaeger.