Earlier in November, Edinburgh Woollen Mill (EWM) went into administration due to the consequences of the coronavirus pandemic on the retail sector. Over 900 jobs were lost.
However, Peacocks and Jaeger, two retails brands belonging to Carlisle-based EWM continued to trade from a reduced estate. Peacocks was founded in Warrington in 1884 and today has 4,369 employees in 423 stores. On the other hand, Jaeger is comprised of 76 stores employees 347 people.
Administrators had two weeks to find buyers for the brands. Although EWM has been in conversations with potential buyers for Peacocks and Jaeger Ltd, the two-week deadline has elapsed and the standstill agreement originally imposed by the High Court cannot be extended.
Therefore, the Directors of EWM have decided to place the two brands into administration while discussions continue.