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Placed into administration, Jaeger joins a growing list of retailers that risk closure due to the Covi-19 pandemic.
Over 4,700 jobs are reported to be at risk at both Jaeger and Peacocks, as owner Edinburgh Wollen Mill (EWM) said it has failed to find a buyer. Business advisory firm FRP was appointed as an administrator to both Peacocks Jaeger. Peacocks, based in Cardiff, Wales, operates 423 stores with 4,369 staff, while London-based Jaeger has 76 stores and employs 347.
“Jaeger and Peacocks are attractive brands that have suffered the well-known challenges that many retailers face at present", said Tony Wright, partner at FRP. "We are in advanced discussions with a number of parties and working hard to secure a future for both businesses."
Sources: Nasdaq/Associate Press