The bidders for Oasis, Coast and Warehouse are reported to include Philip Day, Foschini, Alteri and Truwowrths, but they are believed to have offered less than half the £100m the trio's owners had wanted.
Retail entrepreneur Philip Day has confirmed he is the mystery buyer of Jaeger. The billionaire Edinburgh Woollen Mill owner revealed the news as he opened the first of what will be a new chain of UK department stores.
The administrators of failed fashion business Jaeger delivered bad news Tuesday saying they would close 20 of its stores and cuts 253 jobs as they continue to seek a solution that can salvage parts of the business.
There is confusion surrounding Jaeger as the week starts with its owner selling the brand's debt and a pre-pack administration deal said to be imminent. That would guarantee its future but most stores could close.
The big news in recent weeks has been all about who will buy struggling Jones Bootmaker from Alteri. But today it seems that the private equity investor’s other footwear business, Brantano, is also a bid target.
The list of bidders for Jaeger has grown and it looks like Edinburgh Woollen Mill could be in the lead with sources saying its owner’s track record of succesful turnarounds gives it a strong chance of winning the prize.