M&S could seal deal for Jaeger by end of week
None of Jaeger’s stores will be in the deal
Marks & Spencer is close to rescuing the loss-making Jaeger fashion brand in a deal with the administrator to collapsed former owner Edinburgh Woollen Mill.
It was among the high street businesses acquired in an acquisition spree by Philip Day, the Dubai-based tycoon. EWM also owned Peacocks, Austin Reed and Jacques Vert.
Day was forced to appoint administrators to EWM last November.
M&S is expected to pick up the Jaeger brand and stock in a deal that could be agreed by the end of the week, but none of its standalone stores will be included, according to Sky News.
FRP Advisory is handling the administration process.
Last year, M&S chief executive Steve Rowe announced the retailer’s intention to stock other brands to broaden the appeal of its clothing ranges.
It failed to buy the lingerie brand Victoria’s Secret in the UK and last year began selling eco-fashion label Nobody’s Child.