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
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