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.”