LONDON — Fashion chain Jaeger has has entered administration after failing to find a buyer, putting 700 UK jobs at risk, according to a BBC report.
The struggling retailer’s directors have appointed Alix Partners as administrators to oversee the procedure after failing to find an appropriate buyer for the “luxury fashion” chain.
Jaeger filed a notice of its intention to appoint administrators at the High Court several days ago, and entered into administration on Monday afternoon.
The 133-year-old company has 700 UK employees and 25 shops.
Jaeger is one of a number of retailers that have struggled in the wake of the devaluation of the pound following last year’s Brexit vote. Agent Provocateur recently also fell into administration.
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