Nearly 1,900 retail jobs threatened as Jacques Vert owner seeks investment
Nearly 1,900 retail jobs are under threat as the owner of women's fashion brand Jacques Vert scrambles to find investment to stave off administration.
Style Group Brands, which also owns womenswear labels including Windsmoor and Dash, is seeking backers or a buyer in the next few days as the threat of collapse looms large.
Private equity owner Sun European Partners appointed KPMG earlier this year to look at a possible sale or restructuring and it is understood KPMG would be appointed as administrator if efforts to secure financial investment fail.
Style Group employs 1,888 staff across more than 1,850 shops in 470 locations spanning the UK, Europe and Canada.
The firm describes itself as the largest womenswear concession retailer, with a presence in department stores including Debenhams and House of Fraser.
It was formed from the merger of Jacques Vert and Irisa Group in 2012, following Sun European's acquisition of Jacques Vert.
The combined business was rebranded Style Group Brands in 2016.
Its woes come as a raft of clothing retailers are suffering amid tough conditions on the high street, with consumers shifting spending away from fashion, while the rise of online shopping has also impacted traditional chains.
Jaeger collapsed into administration in April, while Store Twenty One filed a notice of intention to appoint administrators earlier this month.
KPMG and Sun European Partners declined to comment.