Marks & Spencer is reportedly inching closer to an acquisition of Jaeger, the loss-making fashion brand owned by the collapsed Edinburgh Woollen Mill Group (EWM).
The deal could be signed as soon as this week and is expected to include the acquisition of Jaeger's brand and stock, but not its standalone stores, Sky News reports.
A source close to EWM owner Philip Day told Sky that a transaction with Marks & Spencer was “imminent” but added that many of his former assets were less likely to be saved.
EWM also owned Peacocks, Austin Reed and Jacques Vert, none of which are thought to be on Marks & Spencer’s acquisition list.
Like many fashion chains, Jaeger was hit hard this year by months-long store closures.
Photo credit: Marks & Spencer
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