There are further signs of turmoil on the high street with reports that administrators from Duff & Phelps have been called in by Calvetron, the owner of Jacques Vert and a number of other well-known fashion brands, putting some 1,000 jobs at risk
Calvetron bought a range of fashion labels, including Jacques Vert, Eastex and Dash, from UK retailer Style Group Brands last year as part of a pre-pack administration handled by KPMG. Seven concessions in Belgium closed, and 17 standalone Jacques Vert UK stores were shut, but the rescue deal saved around 1500 jobs.
Since then sales in Debenhams and House of Fraser, in which the group has around 300 concessions, have reportedly been weak, leading to another period of financial difficulty.
Earlier this week House of Fraser announced plans to apply for a company voluntary arrangement (CVA) by June in a move which will see the group restructured and a number of its town centre stores close.
