UK fashion retailer Jaeger falls into administration, nearly 700 jobs at risk
Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.
The UK fashion chain Jaeger has collapsed into administration, putting almost 700 jobs at risk.
AlixPartners said it had been appointed administrator of the company at the request of its directors after efforts to find a buyer were unsuccessful.
Jaeger was founded in 1884 and will keep trading “while working with all stakeholders to evaluate the most appropriate route forward”. It has 680 staff in 46 shops, 63 concessions, its head office and a warehouse.
Peter Saville, Joint Administrator, 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 working with all stakeholders to do this. We will ensure that we communicate further as this process unfolds.