M&S closes in on deal to salvage Jaeger brand

M&S closes in on deal to salvage Jaeger brand

Marks & Spencer (M&S) is closing in on a deal to buy Jaeger, the loss-making fashion brand which fell victim to the coronavirus pandemic late last year.Sky News has learnt that M&S could sign an agreement to acquire Jaeger as soon as this week.

The brand was part of the clothing empire owned by Philip Day, the Dubai-based tycoon who was forced to appoint administrators to Edinburgh Woollen Mill Group (EWM) last November.

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M&S is unlikely to take on many of Jaeger's assets



A source close to Mr Day's business said a transaction with M&S was "imminent" but added that many of his former assets were less likely to be salvaged.EWM also owned Peacocks, Austin Reed and Jacques Vert, none of which are thought to be on M&S's shopping list.