World News – GB – Peacocks and Jaeger enter management with 4,700 jobs at risk

Homes have put jobs at risk after owner of Peacocks and Jaeger clothing chains failed to find a buyer for big street owners.

The two companies were placed under management this afternoon after a two-week deadline set by the Supreme Court of the parent company, Edinburgh and Wulin Mill to find a buyer..

Earlier this month, a spokesperson for the EWM Group said they were talking to several potential buyers who were interested in parts of the business..

This comes after reports that Marks & Spencer was likely interested in stocking up on Jaeger products as part of an overhaul of their clothing strategy. There have been suggestions that conversations have expanded since then with M&S considering the possibility of acquiring the brand..

Other companies and individuals who are said to have expressed an interest include the Mike Ashley Frasers Group, Next, and former owner Harold Tillman..

Jaeger operates 76 stores and franchises and has 347 employees while Peacocks in Cardiff has 4,369 employees in 423 stores.

It is managed by Lauren, daughter of billionaire EWM owner Philip Day, who had ambitious plans to expand its Main Street presence before the pandemic wreaked havoc on the retail sector.

Tony Wright, Joint Director of Business from FRP Advisory, said: “Jaeger and Peacocks are two attractive brands that have struggled with the well-known challenges that many retailers face today..

“We are in advanced discussions with a number of parties and are working hard to secure a future for both companies.  »

JAEGER, Peacocks, Administration, Edinburgh Woolen Mill