In what must be one of the worst ever starts to the year for retailers the parent company of another high street fashion brand with outlets in Gloucester and Cheltenham is calling in the administrators.

The parent company of Jacques Vert, which has an outlet in Cavendish House, Cheltenham, Debenhams in Gloucester and a store at the city's Quays, is the firm in question.

British-owned Calvetron Brands Limited, which also owns Eastex, Dash and Precis, is the company bearing the grim news, according to Sky.

This is the second time the firm has called in the administrators in the last 12 months.

In June last year it rode to the rescue buying Style Brands in a rescue deal which saved 1,700 jobs.

Since then sales in Debenhams and House of Fraser, in which it has an estimated 300 concessions, have reportedly been weak.

Earlier this week House of Fraser, for years a kingpin at the heart of Cheltenham's retail offering, confirmed it would launch insolvency proceedings in June.