THOUSANDS of jobs have been put in peril after bosses at clothing chains Peacocks and Jaeger failed to find a buyer for the troubled businesses.

The two companies – which have 4,700 staff and almost 500 stores  – were put in to administration on Thursday afternoon after a two-week deadline to find a buyer passed.

Peacocks has branches in Shirley, Bitterne, Eastleigh, Fareham and Lymington.

Earlier this month, a spokesperson for owner EWM Group said they had been speaking to several potential buyers who were interested in parts of the business.

Jaeger runs 76 stores and concessions and has 347 employees while Cardiff-based Peacocks has 4,369 staff across 423 stores.

Tony Wright, joint administrator of the business from FRP Advisory, said: “Jaeger and Peacocks are attractive brands that have suffered the well-known challenges that many retailers face at present.

“We are in advanced discussions with a number of parties and working hard to secure a future for both businesses.”

No redundancies have been announced yet and no stores closed.