Cardiff-based clothing retailer Peacocks operates 423 stores with 4,369 staff

Cardiff-based clothing retailer Peacocks operates 423 stores with 4,369 staff

The Peacocks and Jaeger fashion chains have fallen into administration in a move that endangers more than 4,700 jobs and puts about 500 shops at risk of closure.

Tony Wright and Alastair Massey, partners at specialist business advisory firm FRP, were appointed as joint administrators to Jaeger Retail Limited and Peacocks Stores Limited today (19 November).

The move comes after parent company Edinburgh Woollen Mill (EWM) Group failed to secure a solvent sale of both businesses. 

A spokesperson for EWM 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. 

"While those talks are ongoing, we no longer have an option to extend the standstill agreement originally imposed by the High Court six weeks ago any further. Therefore as directors we 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."

Jaeger is a London-based fashion business with 76 stores and concessions and employs 347 staff. Peacocks, meanwhile, is a Cardiff-based clothing retailer that operates 423 stores with 4,369 staff.

No redundancies 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. We are in advanced discussions with a number of parties and working hard to secure a future for both businesses," Wright said.

The administrations follow the appointment of Wright and Massey to sister brands The Edinburgh Woollen Mill Limited and Duvetco Limited ten days ago. The joint administrators continue to market the businesses for sale.

EWM Group brand Bonmarche remains a separate entity and is not included in the Peacocks administration.