As many as 1,000 high-street jobs are at risk as the womenswear group behind the Jacques Vert and Precis brands prepares to call in administrators less than a year after its last rescue deal.
According to Sky News, Calvetron Brands Limited will appoint Duff & Phelps as administrator in the next 24 hours.
One supplier told Drapers he has refused to ship orders to Calvetron Brands unless it pays for goods in advance: “They wouldn’t pay up front, so we have not shipped a single piece. The UK retail market is very tough at the moment and we are very exposed to that.”
The company employs almost 1,000 people in the UK and about 400 more in Canada and Ireland.
(but dont forget the economy is “booming”)