Here’s what happened
Collapsed Calvetron Brands will be shutting down its remaining concessions after administrators failed to find a buyer. This will result in a further 500 retail redundancies in the UK, according to latest reports.
Benjamin Wiles, joint administrator at Duff & Phelps, added: “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.
“We are retaining a number of head office staff for between two to four months to assist with the trade-out. 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.”
The business, the parent company of the fashion labels Jacques Vert and Precis, entered administration in May amid “extremely difficult trading conditions on the high street”.