Rag trade entrepreneur Harold Tillman planning renewed attempt to buy back Jaeger fashion chain
Rag trade entrepreneur Harold Tillman is planning a renewed attempt to buy back the Jaeger fashion chain.
It emerged last week that chief executive Colin Henry is on a ‘leave of absence’ amid speculation that he will not return.
Glamorous: Jasmine Guinness launches her new Jaeger collection at Fenwick of Bond Street last week
That followed the departure of a number of directors over the past two years including chairman Peter Williams in May. Tillman has instructed corporate advisers to contact Jaeger’s owner Better Capital in an attempt to persuade shareholders to back his plan.
He said: ‘I’m convinced that I can fix the business.’
Better Capital has invested £60 million to reduce losses at Jaeger and had cut the value of its assets by almost half to £30 million at the end of March.
Tillman ran the Jaeger business profitably for eight years but lost control part way through a plan to separate the loss-making sister brand Aquascutum.
He is also understood to have appointed advisers Griffins to conduct a review of the liquidation of Aquascutum.
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