London: Nearly 5,000 jobs are at risk after the owner of British fashion chains Peacocks and Jaeger said Thursday it had failed to find a buyer for the troubled businesses, which like others in the sector are reeling from the coronavirus pandemic. "Jaeger and Peacocks are attractive brands that have suffered the well-known challenges that many retailers face at present," said Tony Wright, joint administrator and a partner at insolvency firm FRP Advisory. "We are in advanced discussions with a number of parties and working hard to secure a future for both businesses. "Cardiff-based Peacocks operates 423 stores with 4,369 staff, while Jaeger runs 76 stores and concessions and employs 347 staff.The administrators said no redundancies or store closures have been confirmed yet. EWM Group had already placed its Edinburgh Woollen Mill and Ponden Home businesses into administration earlier this month.

Source: Economic Times November 20, 2020 02:28 UTC