M&S considers ​Jaeger, Jacques Vert, Austin Reed buy - report

By

Nigel TAYLOR

Published
Nov 30, 2020

Struggling UK retail giant Marks & Spencer is viewing the possibility of buying three middle-market labels from the collapsed Edinburgh Woollen Mill (EWM) empire.

M&S is understood to be in “pole position” to buy the womenswear operations of Jaeger and Jacques Vert and menswear brand Austin Reed, according to City sources who spoke to The Mail on Sunday. 

They would operate as a subsidiary company with separate design teams if a bid is successful, the report said.

Frasers Group, headed by Mike Ashley, and high street giant Next were also named as possible buyers in the report. 

Jaeger axed 103 jobs and closed 13 stores last week after falling into administration earlier this month. As part of a restructuring, 47 store positions and 56 head office and distribution centre roles at Jaeger have been made redundant.

At the time, administrators said they would continue to search for a buyer for Jaeger but made the cuts as 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.

Jaeger, Austin Reed and Jacques Vert online shopping operations also remain open and continue to trade.