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Jaeger axes jobs and shuts stores

Jaeger has announced it is closing 20 stores and making 209 redundancies across its head office, distribution centre and store network, just a week after it went into administration.

Peter Saville, Ryan Grant, and Catherine Williamson of AlixPartners were appointed joint administrators of Jaeger on 10 April.

Following a consultation, the administrators have decided to close 20 of the 133-year-old retailer’s 46 stores as the operating costs were not viable.

The stores that will close are the branches in Amersham, Belfast, Beverley, Cambridge, Cheshire Oaks, Chester, Chichester, Edinburgh, Guildford, Henley, Oxford, Ringwood, Stratford upon Avon, Truro, Wilmslow, Winchester and Windsor, and two in London’s Canary Wharf. The closures affect 165 members of staff, who will be paid for the duration of the process.

In the head office there have been 32 redundancies, and 12 job losses have been incurred at the retailer’s distribution centre.

Readers' comments (4)

  • Again the ones who are hit hardest are the employees, but it would be interesting to know how much money the 'entrepreneurs' Thompson, Tillman and Better Capital have made during their tenure at Jaeger.

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  • Apparently there is a bid from a set of suppliers that will try to save the brand, the shops and the jobs of all the hard working people at Jaeger. Let's see if the current situation isn't a "done deal" between the administrators and the famous company that bough the debt instrument...
    Jaeger is a 130-year old brand! Laws need to be changed in this country...

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  • Sorry to say that this previously quality brand has turned into a dinosaur-and they are notoriously difficult to turn.
    It might be revived but whatever happens the staff and landlords will lose out yet again.

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  • Better Capital in the Parliamentive.tv.

    http://www.parliamentlive.tv/Event/Index/7d220cdc-4d5b-42f9-be1f-b080f352d86e

    “There are too many pre-pack deals around. We need to enhance our morals and ethics in business in this country.”

    UK government should review insolvency laws to provide a more “ethical, moral and level playing field”, which gives all creditors access to information and the opportunity to have an input in the future of a company in administration.

    “Suppliers are often left with nothing and it is completely unacceptable,” “The law needs to change. It is affecting people’s jobs and livelihoods.”

    Is “increasingly difficult” for suppliers to do business with British retailers without running the risk of losing money due to firms falling into insolvency.

    César Araújo

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