The UK-based clothing giant Marks & Spencer (M&S) is set to acquire the British heritage fashion brand Jaeger out of administration. Jaeger had collapsed into administration in November 2020.
If reports are to be believed, the deal is in its final stages.
This move to acquire the Edinburgh Woollen Mill’s ailing brand is in accordance with M&S’ latest strategy of selling third-party brands, with current tie-ups with the likes of Nobody’s Child.
However, the acquisition will not include Jaeger’s stores that have already been downsized to 63, with over 100 jobs becoming redundant.
Ever since Jaeger fell into administration in November last year, its e-commerce operations have continued and it would be interesting to see how it goes forward if and when M&S acquires Jaeger.
M&S and Jaeger haven’t officially commented on the deal.
Meanwhile all eyes are on M&S’ Christmas trading update tomorrow (8 January), which may reveal the impact store closures have had on the retailer’s apparel section during Christmas holidays.