By guest author Elias Jahshan from Retail Gazette
- Jaeger to axe 103 jobs and shut 13 shops
- It comes after Jaeger fell into administration last week, along with EWM Group stablemate Peacocks
- Administrators continue to search for a buyer for Jaeger but its store count has been reduced to 63
Jaeger has said it will axe 103 jobs and shut 13 stores, a week after falling into administration.
The fashion retailer said it has cut 47 in-store positions and 56 head office and distribution roles as part of a restructuring.
The chain was placed into administration last week by parent company Edinburgh Woollen Mill Group (EWM Group), which is owned by retail billionaire Philip Day.
Administrators have said they would continue to search for a buyer for Jaeger but made the cuts it was “unable to sustain its current structure”.
Jaeger has reduced its stores estate to 63 outlets and concessions, and now employs 244 staff as a result.
Day hired specialists from FRP Advisory to oversee the insolvency of Jaeger and EWM Group stablemate Peacocks, which operates 423 stores with 4369 staff.
EWM Group has also already placed its Pondem Home and flagship Edinburgh Woollen Mill chains into administration earlier this month.
“We continue to hold discussions with interested parties regarding a possible sale,” joint administrator Tony Wright said.
“Regretfully, redundancies have been made across a number of head office and store roles.
“We’re working with staff to support them and help make any claims to the Redundancy Payments Service.”
Jaeger’s online shopping operations, including its online brands Austin Reed and Jacques Vert, remain open and continue to trade.