700 Jaeger employees face uncertain future as chain files for High Court protection
- Credit: Matthew Usher
The jobs of 700 employees at the fashion retailer Jaeger are at risk, after the chain filed notice of its intention to appoint administrators.
The 133-year-old retailer filed the notice on Wednesday, and employees were told on Thursday.
The step was taken to give the chain breathing space to hold off creditors while a potential buyer finalises plans for its future.
Last week, private equity firm Better Capital, Jaeger's owner since 2012, confirmed an unidentified buyer had been found for Jaeger's debt.
Unconfirmed rumours have suggested that Edinburgh Woollen Mill Group could be a potential buyer for the company.
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Jaeger has 25 stores across the country, as well as a concession at Jarrold in Norwich and an outlet store in King's Lynn.
It was founded in 1884 and earned a Royal Warrant in 1910, but in recent years has struggled to meet the demands of modern high-street customers.
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