TM Lewin owner looking at Jaeger - report
Sky News said that Torque Brands is among the potential bidders for the premium label, although whether that will be of any comfort to Jaeger’s staff is open to question. When Torque took over TM Lewin, it closed all of the firm’s stores and made it an online-only business.
Jaeger is owned by Philip Day’s EWM Group, which is itself up for sale but looks likely to be broken up with Day retaining control of Peacocks while shedding other brands.
Torque Brands was set up by private equity business SCP and is headed former Simba Sleep CEO James Cox as well as being backed by former Asda boss Allan Leighton. There was controversy earlier this year when the company bought TM Lewin and all its stores during the lockdown as it then blamed that lockdown for the decision to go online-only.
Whether it might do the same with Jaeger’s stores is unclear, but its interest in the business is understandable given its stated ambition to build a portfolio of heritage British brands.
However, it’s not the only name in the running with reports having also said that ex-Jaeger owner Harold Tillman wants to buy it back. Tillman has said several times how unhappy he was at the way he lost control of the company earlier last decade and it would certainly be interesting to see him back at the helm.
None of the parties concerned have commented on the stories so far.
Copyright © 2021 FashionNetwork.com All rights reserved.