Jaeger has just gone into administration

What does it mean for jobs?

jaeger administration
(Image credit: Rex Features (Shutterstock))

What does it mean for jobs?

High end fashion chain Jaeger has gone into administration after failing to find a buyer for its business, with a rumoured price tag of £30m.

The decision is putting 680 employees across 46 stores and 63 concessions at risk.

Jaeger has struggled with falling sales over the past few years, despite being bought by private equity company Better Capital in 2012.

It’s believed it relied too much on discounts and sales, and struggled to compete with other high street stores.

Last year, Jaeger’s sales fell from £84.2m to £78.4m, with a £5.4m pre-tax loss.

There are rumours that clothing retailer Edinburgh Woollen Mill, which owns Jane Norman and Peacocks, is interested in the business.

jaeger administration

Kate Middleton in a Jaeger dress
(Image credit: Rex Features (Shutterstock))

This could potentially mean they keep certain stores open, but nothing is certain at this stage.

In a statement, administrators Alix Partners 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 was first launched in 1884 as Dr Jaeger’s Sanitary Woollen System Co Ltd and at the time specialised in clothing made of animal hair, wool and fleece, which were worn by the explorer Ernest Shackleton to the Antarctic.

It evolved into a premium brand, and in the 50s and 60s, the likes of Audrey Hepburn, Marilyn Monroe and Twiggy were customers.

More recently, the Duchess of Cambridge was spotted wearing their designs.

Penny Goldstone

Penny Goldstone is the Digital Fashion Editor at Marie Claire, covering everything from catwalk trends to royal fashion and the latest high street and Instagram must-haves.

Penny grew up in France and studied languages and law at the Sorbonne Nouvelle University in Paris before moving to the UK for her MA in multimedia journalism at Bournemouth University. She moved to the UK permanently and has never looked back (though she does go back regularly to stock up on cheese and wine).

Although she's always loved fashion - she used to create scrapbooks of her favourite trends and looks, including Sienna Miller and Kate Moss' boho phase - her first job was at MoneySavingExpert.com, sourcing the best deals for everything from restaurants to designer sales.

However she quit after two years to follow her true passion, fashion journalism, and after many years of internships and freelance stints at magazines including Red, Cosmopolitan, Stylist and Good Housekeeping, landed her dream job as the Digital Fashion Editor at Marie Claire UK.

Her favourite part of the job is discovering new brands and meeting designers, and travelling the world to attend events and fashion shows. Seeing her first Chanel runway IRL at Paris Fashion Week was a true pinch-me moment.