Better Capital has unexpectedly decided to hold on to Jaeger and plough more money into it, as attempts to selling the business failed as bids did not match the asking price. This move is surprising, as the business, which is nearly halved in value, worth just £37m, after Better Capital has put £63m into the chain since rescuing it in April 2012.
A mini-auction was run in the lead up to Christmas, where bids hit around the £35m mark; Better Capital were holding out for over $40m. City sources say that Better Capital have indicated that they will hold onto the business for at least another two years.
Next week, Jaeger are vacating its flagship stores in Regent Street, moving to a smaller store on Kind’s Road in Chelsea.