Edinburgh Woollen Mill brands Jaeger and Peacocks appoint administrators

The struggling fashion group has named partners at specialist business advisory firm FRP, Tony Wright and Alastair Massey, as joint administrators for the two brands.

The appointment was made after the group failed to secure a sale of the businesses.

Jaeger operates 76 stores and concessions and employs 347 staff, while Peacocks has 423 stores with 4,369 colleagues.

The group confirmed that no redundancies or store closures have been made. 

Wright and Massey were also appointed as administrators for Edinburgh Woolen Mill and Ponden Home earlier this month.

Wright said: “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.”

A spokesperson for EWM said in a statement: “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 took 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.”