Jaeger’s unsecured creditors demand independent investigation

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Jaeger

Suppliers of the recently collapsed fashion chain Jaeger have reportedly purchased shares in Better Capital so they can raise concerns about the demise of the company.

The owner of Calvelex César Araújo, who states he is owed millions by the retailer among other unsecured creditors, is leading the charge and calling for an independent investigation into sale of its trademark and administration process.

After Jaeger fell into administration in April, Calvelex made a bid for the company but was informed that the rights to the brand had been sold to a mystery buyer, later confirmed to be the Edinburgh Woollen Mill Group.

READ MORE: Jaeger suppliers prepare to sue ex-owners

Araújo threatened to sue the ex-owner better capital last month.

“We were very disappointed with this situation and question the thinking behind selling the intellectual property of the Jaeger brand name before the company went into administration since without it the value to potential bidders would be greatly reduced,” he stated.

209 jobs were lost and 20 stores were closed after Jaeger fell into administration in April.

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