FIVE people will lose their jobs in Oxford with the closure of designer fashion chain Jaeger in Magdalen Street.

A total of 20 'financially unviable' stores are being shut down by administrators AlixPartners following failed attempts by the struggling retailer's private equity owner, Better Capital, to sell it on.

In a statement, AlixPartners said: "Following consultation with all appropriate stakeholders it has become apparent that the operating costs of a number of stores are financially unviable given the company's difficulties.

"As a result, the joint administrators have made the difficult but necessary decision to commence a programme of store closures.

"We can confirm that all employees at these stores will be paid for the duration of the process."

A total of 165 people work across the 20 stores, with a further 44 to be made redundant at Jarger's head office and distribution function.

Prior to its collapse Jaeger employed 680 staff across 46 stores, 63 concessions, its London head office and a logistics centre.

Better Capital has sold Jaeger's debt to a company understood to be controlled by the retail billionaire Philip Day.

Insiders expect all of Jaeger's stores to eventually 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.

Gift cards continue to be honoured at Jaeger stores.

Full list of store closures

Store Number of staff

Amersham 6

Belfast 10

Beverley 9

Bluewater 13

Cambridge 11

Canary Wharf x 2 12

Cheshire Oaks 13

Chester 9

Chichester 6

Edinburgh 10

Guildford 10

Henley 7

Oxford 5

Ringwood 7

Stratford upon Avon 6

Truro 9

Wilmslow 9

Winchester 8

Windsor 5

Are you affected by Jaeger closure in Oxford? Email hsomerville@nqo.com