By Matthew Roscoe • 19 November 2020 • 18:31
BREAKING NEWS – 4,700 jobs are now at risk as owners of fashion chains Peacocks and Jaeger announce they have gone into administration.
The Covid-19 pandemic has made it hard for the EWN group, controlled by retail billionaire Philip Day, to find a buyer for the two brands, which have about 500 stores between them, and has meant they missed a deadline to sell.
With one in seven businesses stating that they fear they will not survive the next three months, the group said it had to take the “desperately difficult” decision.
“The continuing deterioration of the retail sector due to the impact of the pandemic and second lockdown has made this process longer and more complex than we would have hoped,” it said.
London-based Jaeger has 76 stores and concessions, employing 347 staff, while Cardiff-based Peacocks operates 423 stores with 4,369 staff.
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Originally from the UK, Matthew is based on the Costa Blanca and is a web reporter for The Euro Weekly News covering international and Spanish national news. Got a news story you want to share? Then get in touch at [email protected]
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