Updated: Jaeger goes into administration
Up market fashion store chain Jaeger has gone into administration putting 680 high street jobs across the UK.
The 133-year-old company, which has 63 concessions and 46 stores including one in St John’s Street, Bury St Edmunds, filed notice of intending to appoint administrators on April 5 and is understood to have informed employees the following day.The company’s headquarters is in London and it has a distribution centre in King’s Lynn.
Peter Saville, Ryan Grant, and Catherine Williamson of global business-advisory firm AlixPartners Services UK were yesterday appointed joint administrators over Jaeger Holdings, Jaeger Shops, Jaeger Company’s Shops and The Jaeger Company.
The appointment was made at the request of Jaeger’s directors as a result of the company being unable to attract suitable offers despite a lengthy and well publicized sales process.
The administrators say they will continue to trade the company.
Peter Saville 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.”