Eversheds Sutherland takes lead role on administration of British fashion chain Jaeger

Jaeger shop

Eversheds Sutherland has landed a key role on the administration of British clothing retailer Jaeger.

The firm is advising administrators AlixPartners, which was appointed by Jaeger’s directors yesterday (10 April) after the company failed to find a suitable buyer.

Joint administrator Peter Saville said: “Regrettably, despite an extensive sales process it has not been possible to identify a purchaser for the business. Our focus now is on identifying an appropriate route forward and working with all stakeholders to do this. We will ensure that we communicate further as this process unfolds.”

Jaeger’s owner, private equity company Better Capital, had hired AlixPartners to explore a sale earlier this year, five years after buying the 133-year-old business for just £19.5m.

AlixPartners was also originally drafted in to handle the administration of King & Wood Mallesons this year but was subsequently replaced by Quantuma.

The collapse of Jaeger, which is headquartered in London, has put almost 700 jobs at risk.

The news comes just a year after British department store chain BHS fell into administration. Weil Gotshal & Manges and DLA Piper landed roles on the administration, acting for the company and administrators respectively, while Jones Day was appointed by the administrators to investigate the actions of the company’s former directors.

Other high street administrations last year included suit retailer Austin Reed. Squire Patton Boggs took the lead legal role, advising AlixPartners on the collapse.

Photo by Alquiler de Coches