A FASHION chain that has a store at Gunwharf Quays has collapsed into administration.
Jaeger – which employs 680 staff across its 46 stores, 63 concessions, head office in London and logistics function in Kings Lynn – had been trying to find a buyer but was unsuccessful and appointed administrators on Monday.
The private equity owner of Jaeger, which dates back to 1884 when it was founded as Dr Jaeger’s Sanitary Woollen System Co Ltd, appointed administrators at Alix Partners.
Peter Saville, Ryan Grant and Catherine Williamson, joint administrators at Alix Partners, said they had been called in ‘at the request of Jaeger’s directors as a result of the company being unable to attract suitable offers’.
A statement 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 to work with all stakeholders to do this.’
Jaeger’s stores – also including one in Little London, Chichester – are expected to now close down.