A giant and famous chain of stores in Britain closed more than 500 of its branches due to the recession caused by the spread of the Corona epidemic.

According to Arabiya Net, the famous (Peacocks) and (Jaeger) company, both in the fashion and ready-to-wear sector, announced that the parent company that owns them has failed to find Whoever buys them, which drove it to close, which means that more than 500 retail stores belonging to these two companies will close their doors.

And although the company that owns these two brands did not talk about the fate of any of the workers or their numbers, press reports seen by Al Arabiya.net said that the 500 stores were closed It will mean that more than 4,700 male and female employees are at risk of being laid off at any moment.

The officials of the parent company that owns them have confirmed that they have given themselves two weeks to find a buyer for these two brands, but this period has expired without success.

parent company spokesman Edinburgh Lynn Mill said: In recent weeks we have had constructive discussions with a number of potential buyers of the two companies, but the continuing deterioration in the retail sector due to the impact of the epidemic Corona and the second lockdown made this process longer and more complex than we expected.

He explained that the management of the parent company took the very difficult decision as it decided to place these two companies in the custody of the management with the talks continuing in an attempt to find buyers.

said Tony Wright of FRP Advisory, the co-director: “Jaeger and Peacocks are two attractive brands that have suffered from the known challenges faced by many retailers today. . We are in advanced discussions with a number of parties and are working hard to secure the future of both companies.

It is noteworthy that the parent company that owns these two trademarks is called (EWM) and it is one of the most important and famous workers in the retail sector in Britain, as it was founded in Scotland in the year 1947, by the famous businessman Philip Day, who still runs and owns the company today.

and earlier this month (EWM) had to cancel 866 jobs, in an attempt to cope with the troubles and suffering that the market is facing in Britain and the retail sector Especially since the start of the Corona pandemic at the beginning of this year.