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The fashion chain Jaeger has gone into administration, putting 700 jobs at risk in the UK.

The British retailer's directors appointed administrators after failing to find a suitable buyer for the struggling clothes business.

Jaeger has 46 stores, 63 concessions, a head office in London and a logistics centre in King's Lynn.

The firm has suffered from intense competition on the High Street and falling sales.

Jaeger, which was founded in 1884, has counted actresses, royalty and Arctic explorers among its fans.

However, it has struggled to keep up with rivals such as Burberry or see off competition from fast-fashion chains including Zara and H&M.

Image copyright Getty Images Image caption The Duchess of Cambridge has worn Jaeger clothing

It was acquired by private equity firm Better Capital in 2012, but was put up for sale for about £30m after struggling to boost sales.

Peter Saville, the joint administrator, said: "Regrettably despite an extensive sales process it has not been possible to identify a purchaser for the business.

"Our focus now is in identifying an appropriate route forward and [to] work with all stakeholders to do this."

Reports had suggested that the clothing retailer Edinburgh Woollen Mill was interested in the business.

The Scottish firm, which owns Jane Norman and Peacocks, bought some parts of the menswear retailer Austin Reed when it closed last year.

Heavy discounting

Jaeger's problems are partly because it has "struggled for years to truly understand its core clientele", according to analysts at retail consultancy Kantar Worldpanel.

Glen Tooke at Kantar said the firm also relied too heavily on special offers, estimating that discounts accounted for over three quarters of Jaeger's sales.

"This constant stream of sales and offers has discouraged shoppers from paying full price and has lessened their trust in the quality of the Jaeger product - one of its fundamental selling points," he said.

Last year the firm said its annual sales fell 4% to £78m, while it reported a pre-tax loss of £17m.

Jaeger started by selling woollen long johns and its clothes were worn by the explorer Ernest Shackleton on an Antarctic expedition.

In the 1950s and 1960s its celebrity fans included the actress Marilyn Monroe and the model Twiggy, before more recently being worn by the Duchess of Cambridge.</s>Jobs at a luxury clothes store in Beverley town centre are under serious threat after a well-known fashion retailer went into administration. UK fashion chain Jaeger, which has a women's wear store in Saturday Market, had been on the market for around A 30m but after no buyer was found the firm was forced to go into administration.

Start the conversation, or Read more at This is Hull.</s>Fashion chain Jaeger has collapsed into administration, putting 700 high street jobs at risk.

The group's directors have appointed AlixPartners to oversee the process following failed attempts by the company's private equity owner, Better Capital, to sell the struggling business.

Jaeger - which employs around 680 staff across 46 stores, 63 concessions, its London head office and a logistics centre in Kings Lynn - had been on the market for around £30million.

However, no buyer materialised and last week Better Capital sold Jaeger's debt to a company understood to be controlled by the retail billionaire Philip Day, who heads up Edinburgh Woollen Mill.

A statement by AlixPartners explained that the request was made after Jaeger was 'unable to attract suitable offers despite a lengthy and well-publicised sales process.'

Insiders now expect most of Jaeger's stores to close down, although the brand is likely to survive as part of the Edinburgh Woollen Mill stable, which also includes Jane Norman, Peacocks and Austin Reed.

Joint administrator Peter Saville, of AlixPartners, said: 'Regrettably despite an extensive sales 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. We will ensure that we communicate further as this process unfolds.'

Better Capital, which is headed up by private equity baron Jon Moulton, acquired Jaeger for £19.5million in 2012, but the firm has struggled under difficult conditions for high-street fashion retailers.

Last year the firm said that total annual sales fell from £84.2million to £78.4million, while it booked a pre-tax loss of £5.4million, according to accounts filed at Companies House. Jaeger was founded in 1884 by businessman Lewis Tomalin.</s>Fashion chain Jaeger has gone into administration - jeopardising 700 high street jobs.

The British menswear and womenswear retailer has been in business since 1884 with more than 100 branches, including 46 stores, across the UK.

Its collapse into administration was announced on Monday by consultancy firm Alix Partners.

Jaeger had been on the market for around £30 million but failed to sell.

Insiders believe most of its stores will close down, but the Jaeger brand is likely to survive as part of the Edinburgh Woollen Mill stable, which also includes Jane Norman, Peacocks and Austin Reed.</s>High street fashion chain Jaeger has gone into administration, putting around 700 jobs at risk, it emerged today.

Directors of the menswear and womenswear retailer have failed to find a buyer. It was on the market for £30 million.

The designer brand was founded in 1884 by accountant Lewis Tomalin but analysts said it has struggled to stay relevant.

Jaeger employs 680 staff at 46 stores and 63 concessions in the UK, and has a London head office and a logistics centre in Kings Lynn.

The existing Jaeger branches in the Birmingham area include a shop in Great Western Arcade - where it moved from The Maibox two years ago - plus outlets in House of Fraser Solihull, John Lewis Solihull and Boundary Mill, Junction 10 Retail Park, Walsall.

"Jaeger has struggled for years to truly understand its core clientele," said Glen Tooke, consumer insight director at Kantar Worldpanel.

Mr Tooke told the Guardian: "London fashion week collections and more fashion-forward designs may appeal to younger shoppers but, with 45--54-year-olds accounting for a fifth of spend, Jaeger’s tendency to overlook them has critically damaged its brand."

He also said the reliance on reduced prices had not worked, explaining: "This constant stream of sales and offers has discouraged shoppers from paying full price and has lessened their trust in the quality of the Jaeger product – one of its fundamental selling points.”

Last week Better Capital was reported to be selling Jaeger's debt to retail billionaire Philip Day, owner of Edinburgh Woollen Mill.</s>The fashion chain Jaeger collapsed into administration on Monday, putting 700 high street jobs at risk.

The group’s directors have appointed AlixPartners to oversee the process following failed attempts by the company’s private equity owner, Better Capital, to sell the struggling business.

Jaeger, founded in 1884, is famous for its woollen coats and suits, but the company has struggled in the past few years to stand out in a fiercely competitive fashion retailing market.

Jaeger has approximately 680 staff in its 46 stores, 63 concessions and head office in London and logistics centre in Kings Lynn in eastern England.

The administrators said the company would continue to trade while they worked with all stakeholders to find the most appropriate route forward.</s>Fashion chain Jaeger has collapsed into administration, putting 700 high street jobs at risk.

Joint administrator Peter Saville, of AlixPartners, said: “Regrettably despite an extensive sales 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. We will ensure that we communicate further as this process unfolds.”

On Friday the 133-year-old firm filed a notice of intent to grant administration with the British high court, handing the retailer 10 working days to bolster its financial position.

The firm’s website lists four Irish outlets, which are concessions in Arnotts in Dublin and House of Fraser in Dundrum, stockist Richard Alan on Grafton Street and a designer store in the Kildare Village mall. Representatives from the Jaeger outlet in Kildare village and the concession stand in the House of Fraser were not willing to comment on the future of the brand in Ireland.

The Press Association reported last month that Edinburgh Woollen Mill had emerged as front-runner to snap up the brand. The retail group run by the billionaire Philip Day is competing against a group of bidders also thought to include Mike Ashley’s Sports Direct and Jaeger’s former owner Harold Tillman.

Jaeger is valued at £30 million by Better Capital, which is headed up by private equity baron Jon Moulton. Glen Tooke, consumer insight director at Kantar Worldpanel, said customers had become reluctant to pay full price for Jaeger clothes after a “constant stream of sales”.

He said: “Jaeger has struggled for years to truly understand its core clientele. London Fashion Week collections and more fashion-forward designs may appeal to younger shoppers but with 45 to 54-year-olds accounting for a fifth of spend, Jaeger’s tendency to overlook them has critically damaged its brand. Remarkably, discounting accounts for over three-quarters of Jaeger sales.”

Better Capital acquired Jaeger for £19.5 million in 2012 but the firm has felt the strain under the difficult conditions for high-street fashion retailers. Last year the firm said total annual sales fell from £84.2 million to £78.4 million while it booked a pre-tax loss of £5.4 million, according to accounts filed at Companies House in Britain. Better Capital has enlisted the services of AlixPartners to sound out potential buyers.</s>A 133-year-old staple of the British high street could disappear, as fashion chain Jaeger has collapsed into administration.

It leaves 700 retail jobs at risk, Alix Partners said.

Several days ago, the ‘luxury British fashion’ firm filed a notice of intent to grant administration with the High Court, handing the retailer 10 working days to bolster its financial position.

Edinburgh Woollen Mill had emerged as front-runner to buy the brand.

The retail group run by the billionaire Philip Day is slugging it out with a group of bidders also thought to include Mike Ashley’s Sports Direct and Jaeger’s former owner Harold Tillman.

Jaeger is valued at £30 million by Better Capital, which is headed up by private equity baron Jon Moulton.

Glen Tooke, consumer insight director at Kantar Worldpanel, said customers had become reluctant to pay full price for Jaeger clothes after a ‘constant stream of sales’.

He said: ‘Jaeger has struggled for years to truly understand its core clientele.

‘London Fashion Week collections and more fashion-forward designs may appeal to younger shoppers but with 45 to 54-year-olds accounting for a fifth of spend, Jaeger’s tendency to overlook them has critically damaged its brand.

‘Remarkably, discounting accounts for over three-quarters of Jaeger sales.

‘This constant stream of sales and offers has discouraged shoppers from paying full price and has lessened their trust in the quality of the Jaeger product – one of its fundamental selling points.’

Better Capital acquired Jaeger for £19.5 million in 2012 but the firm has felt the strain under the difficult conditions for high-street fashion retailers.

Last year the firm said total annual sales fell from £84.2 million to £78.4 million while it booked a pre-tax loss of £5.4 million, according to accounts filed at Companies House.

Better Capital has enlisted the services of AlixPartners to sound out potential buyers.

Jaeger, which has around 25 standalone stores, was founded in 1884 by businessman Lewis Tomalin.</s>Fashion chain Jaeger has gone into administration, putting 700 jobs at risk in the UK, according to the BBC.

The retailer’s directors appointed administrators after failing to find a suitable buyer for the struggling High Street chain, BBC has said.

Jaeger has 46 stores, including one in Little London, Chichester.

It also has 63 concessions, a head office in London and a logistics centre in Kings Lynn.</s>Wale and G-Eazy show off their style in their new video ‘Fashion Week.’
The United Kingdom-based Jaeger fashion chain collapses into administration after failing to find a buyer.