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Jaeger falls into administration

Jaeger has appointed AlixPartners as administrators, putting 680 jobs at risk. 

Jaeger filed notice of its intention to appoint administrators at the High Court, last week, as exclusively revealed by Drapers.

One source told Drapers Edinburgh Woollen Mill Group (EWM) is lined up to buy Jaeger through a pre-pack administration deal. The group acquired Austin Reed and CC, formally known as Country Casuals, under similar circumstances last year.

Jaeger, which has been trading for 133 years, will continue to trade its 46 stores and 63 concessions as normal for the time being.

Joint administrator 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.”

Readers' comments (2)

  • Doesn't anyone notice a pattern here? Alix+EWM on Austin Reed, Alix(Zolfo Cooper)+EWM on Jane Norman, Alix+EWM on JAEGER... Is this legal?

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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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