Jaeger faces store closures

0
Have your say

clothing retailer Jaeger, which has a store in Bury St Edmunds, has been sold, prompting fears of store closures.

Jon Moulton, chairman of the purchase Better Capital, said: “There’s a very reasonable possibility there will be some store closures.”

Mr Moulton was not able to comment on whether these could include Jaeger’s St John’s Street store.

He said: “Our plans are simply not detailed.”

Better Capital announced its purchase of Jaeger’s 50 shops and 70 concessions for £19.5 million on Monday.

Jaeger recorded £1 million in operational profits in the year to February 2011 and Better Capitalis optimistic about its future.

Mr Moulton said: “It’s of reasonable health. Our aim is to grow the company to improve the operations and strengthen its position.”