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| Fashion chain Jaeger collapses into administration | Fashion chain Jaeger collapses into administration |
| (35 minutes later) | |
| Fashion chain Jaeger has gone into administration, putting 700 jobs at risk in the UK. | Fashion chain Jaeger has gone into administration, putting 700 jobs at risk in the UK. |
| The British retailer's directors appointed administrators after failing to find a suitable buyer for the struggling High Street chain. | |
| Jaeger has 46 stores, 63 concessions, a head office in London and a logistics centre in Kings Lynn. | Jaeger has 46 stores, 63 concessions, a head office in London and a logistics centre in Kings Lynn. |
| The firm has suffered from intense competition on the High Street and a shift towards online shopping. | |
| Jaeger, which was founded in 1884, has counted actresses, royalty and Arctic explorers among its fans. | |
| However, it has struggled to keep up with rivals such as Burberry or see off competition from fast-fashion chains including Zara and H&M. | |
| It was acquired by private equity firm Better Capital in 2012, but was put up for sale for about £30m after struggling to boost sales. | |
| Peter Saville, the joint administrator, said: "Regrettably despite an extensive sales process it has not been possible to identify a purchaser for the business. | |
| "Our focus now is in identifying an appropriate route forward and work with all stakeholders to do this." |