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Over 4,700 jobs at risk as UK fashion chains seek rescue
Read full article: Over 4,700 jobs at risk as UK fashion chains seek rescueLONDON – Over 4,700 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. A spokesperson for EWM said the deterioration of the retail sector during the current, second lockdown in England had made the sale process “more complex” than hoped. “Therefore, as directors, we have taken the desperately difficult decision to place Peacocks and Jaeger into administration while those talks continue," the spokesperson said. The administrators put in charge of the chains remain hopeful that a deal can be secured. EWM Group had already placed its Edinburgh Woollen Mill and Ponden Home businesses into administration earlier this month.