Fashion retailer Jaeger reportedly on brink of collapse
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Century-old UK fashion retailer Jaeger is reportedly on the brink of entering administration.
The 25-store strong chain was recently sold by private equity company Better Capital to an unidentified buyer, but according to a report in the Sunday Times, the business is believed to be beyond repair.
Better Capital paid £19.5 million for Jaeger in 2012, but the business has not been profitable since.
Jaeger received a royal warrant in 1910 and in its heyday, its fashion models included Audrey Hepburn and Marilyn Monroe. But the business entered a decline in the 1980s, overtaken by more popular brands from Europe.
The Sunday Times reported the mystery buyer was Edinburgh Woollen Mill, which has a track record of buying distressed retail businesses and turning them around.
“Edinburgh Woollen Mill has a history of buying troubled retailers and turning them around, and it’s one of the more credible bidders for Jaeger,” an unnamed source told the Press Association.
Questions & Answers
Q.Who bought Jaeger from Better Capital before its current difficulties?
Who bought Jaeger from Better Capital before its current difficulties?
The article states Jaeger was recently sold by private equity company Better Capital to an unidentified buyer. However, The Sunday Times reported the mystery buyer was Edinburgh Woollen Mill.
Q.When was Jaeger last a profitable business?
When was Jaeger last a profitable business?
Jaeger has not been profitable since Better Capital acquired it in 2012. Before its decline in the 1980s, the brand was well-known, even having Audrey Hepburn and Marilyn Monroe as models.
Q.What is Edinburgh Woollen Mill's reputation in the retail sector?
What is Edinburgh Woollen Mill's reputation in the retail sector?
Edinburgh Woollen Mill has a history of acquiring troubled retail businesses and successfully turning them around. This track record makes them a credible bidder for distressed retailers.