Calvetron Brands is set to close all of its concessions amid its administration, leading to nearly 1000 job losses.
After officially appointing administrators Duff & Phelps in May, the Jaques Vert parent company has failed to find a buyer and will be forced to close all of its 300 global concessions.
This follows the announcement last month that it was set to close 102 concessions, affecting 449 roles.
However, 840 roles will be made redundant in this latest round of closures, including 500 retail roles, 90 roles in Calvetron’s head office, alongside another 250 redundancies in Canada.
“We have explored a number of potential options, however no viable offers for the business as a going concern have been received,” Duff & Phelps joint administrator Benjamin Wiles said.
“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.”
Prior to administration, it employed a total of 1408 people, including 997 in the UK, 155 in Ireland and 256 in Canada.
Click here to sign up to Retail Gazette‘s free daily email newsletter
2 Comments. Leave new
These ‘brands’ were a relic of a bygone age, concessions to be placed in a department store relying on passing footfall. In fact, not brands at all.
Don’t listen to Graham, Graham is a clown