17 April 2017 - Janet Bird
Another iconic British fashion brand has fallen into administration, putting 700 jobs at risk.
Protracted efforts to find a buyer for 133-year-old Jaeger finally ended last week when private equity firm owners Better Capital called in the administrators.
It had been rumoured that Edinburgh Woollen Mill was interested in purchasing the upmarket heritage brand, but no deal was forthcoming and the future of Jaeger's 700 staff and 43 stores is now in doubt.
Jaeger was once patronised by celebrities such as Audrey Hepburn and Marilyn Monroe, as well as, more recently, the Duchess of Cambridge. But competition from fast fashion high street chains ate into its market share and, despite the efforts of Better Capital to turn the company around after purchasing it for £30 million in 2012, it failed to return to profitability.