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LONDON – UK fashion chain Edinburgh Woollen Mill, which owns Peacocks and Jaeger, has lodged a notice to appoint administrators to look for potential buyers – with 24,000 jobs on the line. The company told staff national and local lockdowns have hit the business hard, and there are also fears over the potential impact of further lockdowns. It also claims stories about it failing to pay for cancelled orders in sourcing hubs such as Bangladesh has “impacted our credit insurance,” and hampered its recovery.

The move by EWM, owned by businessman Philip Day, will see insolvency specialists at FRP spend ten days carrying out an urgent review. All stores will continue trading for now but significant changes are expected, and large scale closures and job cuts appear inevitable.

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