There was sadness in Okehampton this week as ‘closing down sale’ signs appeared in the windows of Peacocks on Fore Street — as news emerged that its parent company the Edinburgh Woollen Mill Group had called in the administrators.

On Tuesday, the shop was open and customers browsing, but all enquiries were being directed to Peacocks’ head office in Cardiff, Wales. A recorded message said the head office was closed due to the coronavirus pandemic.

Town councillor Christine Marsh said: ‘It is disappointing news because Peacocks is a huge store in our high street, a general clothing store that everyone can afford. It is going to leave a big hole in Okehampton, it is really sad.’

What the news means for staff at the store has yet to be clarified. However, a statement issued by the Edinburgh Woollen Mill Group said 24,000 jobs were at risk nationwide.

The company — which owns Peacocks, Jaeger, Edinburgh Woollen Mill itself and several other high street chains — wrote to staff informing them of the situation last Friday. It says the Covid-19 situation has impacted on sales nationwide.

Owner Philip Day has called in insolvency administrators FRP to carry out a review expected to take days rather than weeks. In the meantime stores, including Peacocks in Okehampton and the Edinburgh Woollen Mill in Tavistock are to keep trading.

‘Like every retailer, we have found the past seven months extremely difficult,’ said EWM chief executive Steve Simpson. ‘The situation has grown worse in recent weeks as we have had to deal with a series of false rumours about our payments and trading which have impacted our credit insurance.’

He added: ‘As directors, we have a duty to the business, our staff, our customers and our creditors to find the very best solution in this brutal environment.’

He said they had applied in court ‘for a short breathing space to assess our options before moving to appoint administrators’.

‘Through this process I hope and believe we will be able to secure the best future for our businesses, but there will inevitably be significant cuts and closures as we work our way through this.’