Frasers' Mike Ashley is latest name linked to Jaeger bid
Frasers Group is continuing its acquisition spree among distressed brands in the UK and while it’s reported to be interested in Debenhams, the company is also said to be looking at Jaeger, Austin Reed and Jacques Vert.
Those three brands (which employ around 2,000 people) are currently owned by the group that also controls Edinburgh Woollen Mill (EWM), which is under the control of retail billionaire Philip Day.
Frasers chief Mike Ashley, another retail billionaire, has long been a rival of Day, but rivalry aside, Jaeger and the other labels could make a good fit into Frasers Group’s growing stable of higher-end brands.
It’s also believed that ex-Jaeger owner Harold Tillman is interested in buying the label back and TM Lewin owner Torque Brands is said to be interested in Jaeger too.
The label is up for sale as EWM fights for its future in the face of an unprecedented downturn and its owner is reportedly focused on retaining the Peacocks brand.
EWM clinched a 10-day extension of its protected period last Thursday, but if a deal can’t be worked out before that extension ends, it will likely fall into administration with some 20,000 jobs being at risk.
That would make it one of the biggest UK business failures to have come out of the pandemic so far.
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