The corporate restructuring and advisory team at national law firm Shoosmiths has advised administrators on the sale of the heritage British clothing brand, Jaeger Retail Limited to multinational retailer, Marks & Spencer.
Marks & Spencer will take on the brand as part of its efforts to sell a wider selection of brands online - but not Jaeger’s stores or concessions – and is expected to complete the purchase of product stock and marketing assets by the end of this month.
Lee Sennett, corporate restructuring and advisory partner acted for the administrators on the sale, assisted by Charlotte Duce, legal director and Aaron Luxton, associate.
Lee said: “The pandemic has and continues to have a devastating impact on the UK retail industry so I am very pleased that the corporate restructuring & advisory team here at Shoosmiths has been able to assist with the preservation of another of the High Street’s well known and iconic brands.”
Shoosmiths’ restructuring team has worked on a number of high-profile retail restructurings, most recently Jigsaw and TM Lewin.