700 jobs at risk as luxury chain Jaeger goes under

THE luxury brand Jaeger, which dressed the likes of the Duchess of Cambridge and Audrey Hepburn, yesterday collapsed, putting almost 700 jobs at risk.

Directors appointed administrators after failing to find a buyer for the chain, which was on the market for £30million.

Despite being acquired by Better Capital for £19.5million in 2012, the firm struggled under competition from other highstreet retailers and rising online sales.

Andy Brian, head of retail at Gordons law firm, said: ‘Like BHS last year, Jaeger has failed to capitalise on the growth of online retailing.

‘As a result, it has been left behind – and left struggling – where other fashion retailers have grabbed the opportunity.

‘We can expect more famous retail brands to go into administration this year for the same reasons.’

Jaeger, which was founded in 1884, employs around 680 staff at 46 shops, 63 concessions, its London head office and a logistics centre in Kings Lynn, Norfolk.

The group’s directors appointed AlixPartners to oversee administration.

Peter Saville, of AlixPartners, said: ‘Regrettably, despite an extensive sales

‘It has been left behind’

process, it has not been possible to identify a purchaser for the business. Our focus now is in identifying an appropriate route forward and work with all stakeholders to do this.’

The company was founded as Dr Jaeger’s Sanitary Woollen System Co and named after Dr Gustav Jaeger, a zoologist who advocated the health benefits of animal fibres. The brand launched the first camel hair coat, a hit among the well-heeled women who shopped at its flagship store in Regent Street, London.

It earned a Royal Warrant in 1910 and in 1914 the explorer Ernest Shackleton wore Jaeger on his Antarctic expedition.

The brand has been worn by celebrities including Marilyn Monroe, Twiggy, Judi Dench and Marianne Faithfull.

But attempts to modernise failed and, while other British brands such as Burberry managed to attract younger shoppers, Jaeger has been unable to recoup its lost customers – last year sales fell from £84.2million to £78.4million.