Jaeger cuts jobs, closes stores
A week after filing for administration, fashion chain Jaeger is to cut 103 jobs and close 13 of its shops. Of the job cuts, 47 of them are in-store positions and 56 are head office and distribution roles.
The company was put into administration last week by retail billionaire Philip Day and its administrators continue to seek a buyer for the business. However, the cuts have been made now in order to make the operation more viable with the administrators saying they were “unable to sustain its current structure”.
The 13 affected locations are Banbridge, Bideford, Birmingham’s Great Western Arcade, Bourton-on-the-Water, Braintree, Bury St Edmunds, Castleford, Hatfield, Marlborough, Newcastle’s Fenwicks, Salisbury, Sterling Mills and Talke.
It means the company will employ 244 people and operate 63 stores and concessions after the closures.
No news has come through yet of a possible buyer but it has been reported that there has been plenty of interest in acquiring Jaeger, although it was always seen as likely that any new owner would want to make changes to its structure and close some of its shops in a world where physical stores are more challenged than they've been for decades.
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