Jacques Vert owner calls time on all concessions
The administrators of Calvetron Brands have announced all of the Jacques Vert and Precis owner's concessions will now close as it is unable find a buyer for the retail group.
Duff & Phelps said the closures will lead to the loss of 840 jobs, in addition to the 445 roles that went in June when the first 102 concessions were earmarked for closure.
This latest and final raft of closures will lead to 500 further retail redundancies, plus around 90 jobs in Calvetron's global head office and distribution centre, as well as another 250 roles in Canada.
The Jacques Vert owner is shutting up shop after its search for a buyer failed.
Calvetron had previously employed 1,408 people - 997 in the UK, 155 in Ireland and 256 in Canada.
Benjamin Wiles, joint administrator at Duff & Phelps, said: 'Following our appointment on May 4 2018, the joint administrators have continued to trade the business, allowing a period of time for us to market the business and assets for sale as a going concern.
'We have explored a number of potential options, however no viable offers for the business as a going concern have been received.
'As such we are now having to close the remaining concessions here in the UK and Ireland as well as Canada and move to trade-out the stock.'
He added: 'Calvetron Brands has faced the perfect storm of extremely difficult trading conditions on the high street, rising costs and low customer confidence, all of which hindered our ability to secure a buyer.'