Jacques Vert owner Calverton Brands prepares to go into administration

Calverton Brands, owner of the Jacques Vert clothing retail brand, is expected to appoint administrators on Friday, as the potential collapse of another chain suffering from the brutal high street conditions will put around 1,000 jobs in danger.

Calverton’s situation, coming less than a year after securing a rescue deal, was also affected by the shutdown of some stores of House of Fraser and Debenhams which stocks some Jacques Vert clothing lines, Sky News reported.

House of Fraser has been looking to close around 20 of its worst performing stories in a company voluntary agreement with landlords, which could be approved by creditors by the end of June.

The UK high street malaise has seen chains hit by rising costs and weak consumer confidence, with the collapse of Toys R Us, Maplin and Warren Evans, plus wobbles at New Look, Carpetright and Poundworld leading to CVAs.

Jacques Vert owner Calverton has struggled to stay afloat in a competitive clothes market, having only last June struck a rescue deal that saved 1,700 jobs.

"In our view, trading conditions on the high street remain tough," said analysts at Shore Capital. "A number of weaker retailers continue to explore CVAs to take operating costs out of their businesses, as the channel shift online continues to structurally change the face of the retail sector."

ShoreCap said there is a real polarisation in trading performance, with weaker retail brands starting to fall away or cut back capacity to adjust to the structural shift by consumers online.