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Remaining Calvetron concessions to close

The administrators for Calvetron Brands have decided to close all the business’s remaining concessions after failing to find a buyer.

Benjamin Wiles, Trevor Birch and Philip Duffy of Duff & Phelps have announced they are serving notice on the remaining Jacques Vert and Precis concessions in the UK, Ireland and Canada, resulting in a further 500 retail redundancies.

Around an additional 90 jobs will be affected in the global head office and distribution centre, where a small number of staff will be retained in the short term. A further circa 250 are affected in Canada.

It follows the announcement last month of the planned closure of 102 concessions, affecting 445 employees.

Calvetron Brands employed a total of 1,408 people – 997 in the UK, 155 in Ireland and 256 in Canada – when administrators were appointed on 4 May.

Wiles said: “We have explored a number of potential options. However, no viable offers for the business as a going concern have been received. As such we are now having to close the remaining concessions here in the UK and Ireland as well as Canada and move to trade-out the stock.

“We are retaining a number of head office staff for between two to four months to assist with the trade-out. 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.”

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