M&S close to Jaeger deal
It is believed that the M&S deal will involve the acquiring of Jaeger's stock but not its standalone stores
Marks and Spencers is reportedly close to signing a deal to purchase Jaeger from Philip Day’s Edinburgh Woollen Mill group which collapsed into administration last year.
According to Sky News, M&S could reach an agreement to acquire the store as early as this week.
In November last year the store along with sister brand Peacocks was forced into administration after Day failed to secure a buyer for the brands.
It is believed that the M&S deal will involve the acquiring of Jaeger’s stock but not its standalone stores.
Sky News reports that the move by M&S is part of chief executive Steve Rowe’s “larger vision” for the brand, in which he hopes to sell more third-party brands which appeal to M&S’s target market.
Just last year the store attempted to bid on the rights to become the UK franchisee of Victoria’s Secret but lost out to competitor Next.
Retail Sector has contacted M&S for a comment.
