M&S’s deal to buy Jaeger completed on Friday and the administrators to the heritage brand have confirmed that all 63 standalone stores and the label’s concessions will not reopen after the current UK lockdown ends.
Confusion over Bonmarché’s inclusion in the rescue deal that saved most Edinburgh Woollen Mill and Ponden Home stores and jobs has been cleared up with news on Thursday that Bonmarché has also been sold to Purepay.
Consumer spending fell 2.3% year-on-year in December as areas moving into higher tiers, and reimposed lockdowns, dented the kind of activity usually seen in the festive season. But online was a bright spot.
M&S has confirmed that it has bought the Jaeger brand, which had been part of Philip Day’s fashion retail empire. But while the firm is taking over the brand, it’s not buying the label’s store chain and its concessions.