Jaeger axes 233 staff closing 63 stores and concessions

Jaeger sign

Jaeger's stores and concessions are to close. The firm has been acquired by Marks & Spencer but the stores were not part of the deal. - Credit: Archant

Administrators for fashion icon Jaeger, with outlets in Norfolk, have said its stores and concessions are not part of the deal with Marks & Spencer.

The fashion brand, which has a concession store in Norwich's Jarrold and an outlet in King's Lynn, was bought earlier this week by M&S.

Administrators at FRP Advisory said that 22 head office staff and 211 store staff had been made redundant.

Six head office staff and seven warehouse staff have been retained by the administrators to assist them in their duties.

On Monday, M&S sealed the deal to buy the brand and stock for an undisclosed amount, understood to be around £5m.

Jaeger was placed into administration alongside sister firm Peacocks in November by Dubai-based owner and retailer Philip Day.

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."

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