Eighty more roles at Jaeger are at risk of redundancy in the latest round of consultations at the British retailer
Jaeger has put almost a tenth of its staff into consultation as part of an ongoing strategic review, Drapers can exclusively reveal.
The head office and retail roles are in addition to the 25 head office roles put under review in March. The latest round of consultations is part of a drive by its new owner Better Capital to turn around the business.
Jaeger managing director Carolyn Springett said in a statement:
“Following acquisition by Better Capital in April, Jaeger is currently undertaking a full strategic business review. As part of this review, we are entering into consultation which will put 80 roles across the business at risk of redundancy. This action is very regrettable but is essential to enhance the competitiveness of the Jaeger brand both in the UK and internationally. Following a challenging period, the company is committed to making a significant investment in the Jaeger brand across the key areas of product development, marketing and PR, ecommerce, retail operations, systems and supply chain.”
Better Capital acquired 90% of Jaeger in April. Harold Tillman, who previously owned 70% of the business, retained a 10% share and remains as chairman.
In the year to February 28 2011, Jaeger made pre-tax profits of £772,000, down from £2.22m in the previous year. Revenue fell 10% to £94m.