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Gloucestershire Business News

Jigsaw could be next missing piece on Cheltenham Promenade

Cheltenham's beleaguered Promenade could be facing another blow with fashion retailer Jigsaw close to launching a CVA.

The move could lead to the closure of shops with two Jigsaw outlets in Gloucestershire on the Promenade and in Tetbury.

Any closure would be another major blow to the shopping area which has seen the likes of Gap, Jack Wills, LK Bennetter, Coast and Cafe Rouge while the future of Bella Italia remains uncertain after its owners Casual Dining Group was bought out of administration by private equity firm Epiris.

Jigsaw, which employs around 900 people, drafted in KPMG and Cavendish Corporate Finance to last month to look at rent negotiations and potential investors or sale.

The company was bought by Carphone Warehouse founder David Ross in 2018.

Last month a company spokesman said: "We are confident that Cavendish and KPMG are the right partners to undertake this strategic review of our business.

"Jigsaw is a valued British heritage brand and the board is determined to do all it can to steer the company and its staff through this incredibly challenging time."

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