700 jobs at risk as fashion chain Jaeger goes into administration

Jaeger, the British menswear and womenswear retailer, has officially gone into administration.

The fashion chain, which was established in 1884, operates 46 stores and 63 concessions across the UK. This announcement is putting 700 jobs at risk.

On Monday (April 10th), AlixPartners has appointed to manage the administration process after Jaeger’s private equity owner, Better Capital, was unable to find a buyer for the business.

Better Capital, which acquired Jaeger in 2012, put the fashion chain on the market for £30m after sales began to fall due to tough conditions for high street retailers.

Peter Saville, Joint administrator of AlixPartners, said: “Regrettably despite an extensive sales process it has not been possible to identify a purchaser for the business.

“Our focus now is in identifying an appropriate route forward and work with all stakeholders to do this. We will ensure that we communicate further as this process unfolds.”

It is believed that most of Jaeger’s stores will close down, but clothing retailer Edinburgh Woollen Mill will likely buy part of the business.

Edinburgh Woollen Mill, which also owns Jane Norman and Peacocks, acquired part of the retailer Austin Reed when it closed last year.

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