More high street jobs face the chop as Jacques Vert owner shuts down

The group behind womenswear brands Jacques Vert and Precis is calling in the administrators today (May 4), putting close to 1,000 jobs at risk.

Calvetron Brands Limited (CBL), which also owns casual fashion brand Dash, is expected to appoint advisory firm Duff & Phelps as administrator.

The company employs nearly 1,000 in the UK and 400 across Ireland and Canada.

Calvetron previously traded as Style Group Brands and is owned by a consortium of private investors. It was formed in 2012 through a merger between Jacques Vert and Irisa Group.

Until recently, the firm was advised by the former owner of fashion label Jaeger, entrepreneur and investor Harold Tillman.

According to a report by Sky News, Calvetron’s performance has been impacted by poor sales at department stores House of Fraser and Debenhams, where around 300 of its concessions trade.

The company is the latest in a string of familiar high street names to announce widespread store closures or shut down altogether.

Maplin and Toys R Us are two of the most high profile cases so far this year. Their collapse led to the loss of thousands of jobs across the country.

Similarly, RBS announced plans to close dozens of branches earlier this week with the loss of more than 700 jobs.