Jaeger has officially fallen into administration

Helen Cahill
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General Election - Economy
The middle-market retailer has been struggling for some time (Source: Facebook/Jaeger)

Middle-market retailer Jaeger has fallen into administration, putting nearly 700 jobs at risk.

Alix Partners has been appointed to handle the administration.

"The appointment was made at the request of Jaeger's directors as a result of the company being unable to attract suitable offers despite a lengthy and well-publicised sales process," Alix Partners said.

Read more: Trouble in store: More pain on the way for UK retail

"The joint administrators will continue to trade the company while working with all stakeholders to evaluate the most appropriate route forward."

Jaeger is the latest in a string of retailers to enter administration. Last month, Brantano footwear and several of Poundland's 99p Stores shut up shop. Jones the Bootmaker was saved from collapse by private equity firm Endless, and Store Twenty One entered into talks with lenders after struggling to keep up with rent payments.

Experts are forecasting many more failures in the year ahead, as a combination of rising business rates, the national living wage, and higher costs following the devaluation of sterling all hit the industry.

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