Peacocks and Jaeger collapse also means a headache for landlords

The dream would be a bidder rescuing everything: jobs and shops.  But there is a chance that if a buyer is found for both businesses a sale could be subject to a number of terms. Will any new buyer want all the stores?  Will they want new rent terms? No and yes respectively,  I suspect.

Jaeger has 76 stores and concessions, and Peacocks operates 423 shops. Among London-listed firms that have these brands across their estates are: NewRiver (14 Peacocks); Landsec (1 Peacocks, 7 Jaeger); Hammerson (1 Peacocks).  

These of course only represent a tiny part across these landlord’s portfolios, but coupled with the Covid disruption these building owners are already facing, this is another headache.

The British Property Federation has pointed out on many occasions this year that many people have savings and pensions invested in commercial property. The BPF’s chief executive Melanie Leech today says:  “It’s truly disappointing to hear more bad news from the high street, especially in the run up to Christmas, putting not only jobs but the pensions and savings invested in shops across the country at risk.”  

For many employees across Britain, and retailers, restaurant operators and landlords, the lifting of the latest lockdown can’t come soon enough, as well as an update about the future of Jaeger and Peacocks.