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Jacques Vert Owner Calvetron goes into administration

4 May 2018

Jacques Vert Owner Calvetron goes into administration

A thousand jobs at risk as Calvetron the owners of the brands Jacques Vert, Precis, Dash and Eastex, goes into administration.  The company has concessions in House of Fraser and Debenhams.  The business is expected to trade until a buyer is found according to the administrators Duff and Phelps.

Calvetron Brands blamed "extremely difficult" retail conditions. 

The collapse makes Calvetron the latest in a long line of high street casualties amid a combination of rising costs, dwindling consumer confidence and shifts to online shopping.

Peter Ridler said staff had worked "with energy and determination to achieve the turnaround that was needed".

"However, a combination of four brands that needed time and investment, against a backdrop of extremely difficult trading conditions on the high street, rising costs and low customer confidence has meant that we haven't been able to achieve this within the timescales required," he added.

Calvetron bought Jacques Vert and other brands out of administration last year.

If you are an employee of Calvetron then read our guide for employees setting out your rights and what to expect

Employee Guide

So here we go again, another fashion retailer in trouble.  There really is a seismic shift going on in the UK and rising costs and consumer confidence is not in our opinion the main cause.  Online shopping has exploded in the last 2 years and people just do not spend as much in the shops as they used to unless they make frequent visits to no-frills value fashion like Primark and Zara.  That said if you go to a shopping centre these days you may notice that the likes of Primark and Zara, despite being cheap, do appear to have better displays and exude a certain confidence.  Next is doing OK but profits are not nearly as good as expected. 

It now appears that BHS could have just been the start and wasn’t so fundamentally flawed as people thought?? 

Who gets paid if a company goes bust?

Categories: Retail, What is administration, Redundant Employee?

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