Two major clothing shops in Bristol city centre are closing permanently.
Posters have appeared in the windows of Peacocks and Edinburgh Woollen Mill in The Galleries advertising major closing down sales, with up to 70 per cent off stock.
This comes one week after The Edinburgh Woollen Mill Group, which owns Peacocks and Jaeger fashion brands, filed for administration.
The potential collapse of the group has put about 24,000 jobs at risk.
The retail group is owned by British billionaire businessman Philip Day and its revenue in 2019 was £88.7 million, resulting in a net income of £11.9 million.
It has more than 1,00 stores in the UK including 265 Edinburgh Woollen Mill stores and 479 Peacocks outlets.
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Peacocks was bought out by the EWM Group in 2012, with the now-defunct brand Jane Norman also being acquired out of administration.
There are four Peacocks stores across Bristol as well as branches in Gloucester, Bridgwater, Tewkesbury and Cirencester.
EWM chief executive Steve Simpson said: "Like every retailer, we have found the past seven months extremely difficult.
"This situation has grown worse in recent weeks as we have had to deal with a series of false rumours about our payments and trading which have impacted our credit insurance.
"Traditionally, EWM has always traded with strong cash reserves and a conservative balance sheet, but these stories, the reduction in credit insurance, against the backdrop of the lockdown and now this second wave of Covid-19, and all the local lockdowns, have made normal trading impossible.
"As directors we have a duty to the business, our staff, our customers and our creditors to find the very best solution in this brutal environment.
"I would like to thank all our staff for their amazing efforts during this time and also our customers who have remained so loyal and committed to our brands."
