Jaeger jobs axed after Marks and Spencer acquires fashion brand | Opinion: Graeme Roy

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Business Bulletin

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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