Billionaire Philip Day’s retail empire that includes Peacocks and Jaeger is on the brink of collapse, with extra thab 21,000 jobs at risk.
Edinburgh Woollen Mill (EWM), which also owns Austin Reed and Jacques Vert, is poised to appoint directors at FRP Advisory if it fails to obtain a purchaser for some or all of the brand names.
Mr Day’s chains, amassed in excess of the years and normally purchased from past administrations, have extra than one,000 branches involving them.
The retailer has lodged a notice of intent to appoint directors with the Large Court, which is meant to prevent lenders this sort of as suppliers or landlords from professing any income for 10 times prior to a official appointment is produced.
Main govt Steve Simpson mentioned that while he hoped to safe the very best long run for the company, there would inevitably be considerable career cuts and store