Fashion entrepreneur and ex-BFC chairman Harold Tillman is calling for a US Chapter 11-style bankruptcy protection system to give struggling companies the breathing space to turn their operations around.
Out with the old, in with the new. Peter Ridler has moved from his role at White Stuff and has taken over at Calvetron, the firm that owns Dash, Jacques Vert, Precis and Windsmoor after CEO Shaun Wills stepped down.
Over 1,700 jobs appear to have been saved at Style Group after a group of investors including Harold Tillman mounted a successful rescue bid for the troubled womenswear firm and hinted at a possible move into menswear.
Retail veteran Harold Tillman may have been frustrated in his attempt to win back the Jaeger brand he once owned, but reports suggest that he could lead a group of investors working on a rescue deal for Style Group.
The administrators of failed fashion business Jaeger delivered bad news Tuesday saying they would close 20 of its stores and cuts 253 jobs as they continue to seek a solution that can salvage parts of the business.
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.