M&S is reportedly close to a deal to buy Jaeger, which is part of Philip Day’s failed Edinburgh Woollen Mill Group. But while it’s believed to be taking on the brand and its stock, the stores aren’t part of the deal.
The livelihoods of millions of Asian garment workers are in jeopardy after cancellations by top fashion brands, with unions, researchers and campaigners warning coronavirus could lead to a rollback of labour rights.
Buying House of Fraser and ultimately loss-making stakes in firms like Debenhams and MySale may have been a chastening experience for Sports Direct boss Mike Ashley, but it hasn't stopped him from looking for more buys.
Billionaire Philip Day is now in control of struggling Bonmarché after buying a 52% stake in the distressed retailer. The Peacocks and Jaeger owner will launch a bid for the remaining 48%, along with a business review.
House of Fraser is to get a new owner after calling in administrators Friday. A fast deal to buy a slimmed-down version of the chain had been on the cards with news Friday that retail tycoon Mike Ashley is now in charge.
Abercrombie & Fitch and Sean “Diddy” Combs’ clothing were among companies sourcing from Bangladesh that had failed to sign a new accord for the safety of millions of factory workers as it took effect on Friday.