1,000 jobs at risk as womenswear retailer ‘prepares to call in administrators’
PUBLISHED: 08:32 04 May 2018 | UPDATED: 13:36 04 May 2018
Archant Norfolk 2018
A high-street fashion brand with East Anglian branches is preparing to call in administrators, according to reports.
Calvetron Brands is the womenswear group behind the brands Jacques Vert and Precis and is expected to appoint Duff & Phelps as administrators today, putting more than 1,000 jobs at risk.
The collapse into insolvency, first reported by Sky News, would come less than a year after its last rescue deal, and make the company the latest in a long list of high-street failures over the past year as rising costs and falling consumer confidence take their toll.
Calvetron was previously called Style Group Brands and is owned by private investors.
Jacques Vert’s East Anglian presence includes concessions in Palmers in Great Yarmouth and Lowestoft, Jarrold and House of Fraser in Norwich, and Debenhams in Ipswich and Colchester.
If confirmed, its demise will follow news of House of Fraser pursuing a restructure, announced earlier this week.
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