Administrators for Jaeger have said that 233 staff will be made redundant following the fashion brand’s acquisition by Marks & Spencer.
Jaeger’s 63 stores and concessions will be permanently closed after they were not bought as part of the deal.
Administrators at FRP Advisory said that 22 head office staff and 211 store staff have been made redundant as a result.
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Tony Wright, joint administrator of Jaeger Retail Limited and partner at FRP, said: “The transaction with M&S provides a future for this well-known brand and, in competition with a number of bids, has provided the best outcome for creditors.
“Unfortunately, we will now progress with the permanent closure of the remaining store portfolio and work with the affected staff to access redundancy payment and support.”
Professor Graeme Roy. Picture by Gordon Terris.
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The latest national lockdown is a bitter blow for businesses across Scotland.
Of course, the vast majority of business owners understand the best way to protect the economy in the long run is to control the spread of the virus and accelerate the vaccination roll-out. But this doesn’t offset the scale of the immediate challenge.
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A Scottish architecture practice has shaken up its internal structure as it plots further growth and signals hopes to expand its team this year.
Borders-based Aitken Turnbull, which can trace its roots back to the 19th century turned over more than £1.5 million last year and is aiming to build on that with the restructuring of its offices in Edinburgh, Galashiels and Dumfries.
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