April 10 Fashion retailer Jaeger, known for its
classic British clothing ranges, has gone into administration,
the administrators said in a statement, putting nearly 700 jobs
Jaeger, founded in 1884, is famous for its woollen coats and
suits, but the company has struggled in the past few years to
stand out in a fiercely competitive fashion retailing market.
The appointment of the administrators, AlixPartners, was
made at the request of Jaeger's directors after attempts to sell
the business were unsuccessful, the statement said.
"Regrettably despite an extensive sales process it has not
been possible to identify a purchaser for the business," joint
administrator Peter Saville said in the statement.
Jaeger has approximately 680 staff in its 46 stores, 63
concessions and head office in London and logistics centre in
Kings Lynn in eastern England.
A person familiar with the matter told Reuters on Friday
company had filed a notice to enter a form of creditor
protection to buy it some breathing space after investment group
Better Capital sold the retailer's debt to another
Jaeger provided clothing for Ernest Shackleton's Antarctic
expedition and was famous for dressing film stars such as Audrey
Hepburn and Marilyn Monroe. It went into administration in 2012
before being bought by Better Capital.
The administrators said the company would continue to trade
while they worked with all stakeholders to find the most
appropriate route forward.
(Reporting By Justin George Varghese in Bengaluru. Editing by