First it was Shop Direct calling off its mega-billions sale and now Kaupthing is believed to have ended the bidding process for its trio of key (but far less valuable) UK fashion brands, Oasis, Coast and Warehouse.
The bidders for Oasis, Coast and Warehouse are reported to include Philip Day, Foschini, Alteri and Truwowrths, but they are believed to have offered less than half the £100m the trio's owners had wanted.
Retail entrepreneur Philip Day has confirmed he is the mystery buyer of Jaeger. The billionaire Edinburgh Woollen Mill owner revealed the news as he opened the first of what will be a new chain of UK department stores.
UK consumers are moving their fashion spend online and more of their total spend is leisure-focused with new figures from PwC and LDC showing fashion retail losing out last year as more stores than ever closed.
There is confusion surrounding Jaeger as the week starts with its owner selling the brand's debt and a pre-pack administration deal said to be imminent. That would guarantee its future but most stores could close.
The list of bidders for Jaeger has grown and it looks like Edinburgh Woollen Mill could be in the lead with sources saying its owner’s track record of succesful turnarounds gives it a strong chance of winning the prize.