relatives and old friends
A somewhat formal or literary term referring collectively to one's relatives and long-standing friends. Not an everyday conversational word; more likely found in written contexts or formal speech.
Many relatives and old friends gathered for his wedding.
親戚 means 'relatives' only, without the 'old friends' component. 親戚故旧 is a broader, more formal set phrase.
故旧 by itself is a literary term for 'old friend' or 'old acquaintance', but it is rarely used alone in modern Japanese.
Compound of 親戚 (relatives) and 故旧 (old friends). The exact historical derivation is uncertain, but the combination is a classical Chinese-style four-character compound (四字熟語) used to refer to one's close social circle.