The brand loved by Marilyn Monroe collapses into administration

Uh oh

Iconic fashion chain Jaeger collapsed into administration yesterday putting 680 jobs at risk.

Previously owned by Better Capital, the brand was finding a new buyer for the past few days.

Better Capital appointed administrators at Alix Partners after proving unable to find a buyer for a suggested price of £30m.

Jaeger employs about 680 staff across 46 stores, 63 concessions, its head office in London and a logistics centre in King’s Lynn.

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”.

“Regrettably, despite an extensive sales process, it has not been possible to identify a purchaser for the business,” Saville said. “Our focus now is in identifying an appropriate route forward and to work with all stakeholders to do this.”