Former Jaeger owner hits out at Better Capital over collapse

On the attack: Harold Tillman said Jaeger was not understood by its bosses

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Clare Hutchison11 April 2017

The former owner of Jaeger has criticised Jon Moulton’s Better Capital over its running of the fashion chain a day after the company collapsed into administration.

Harold Tillman, who owned the company between 2003 and 2012, said Better Capital failed to “hire anyone who understood the DNA of Jaeger to lead the business since myself and [current Marks & Spencer style director] Belinda Earl departed”.

“The most recent chief executive [Chris Horobin] started to make improvements, but obviously Better Capital couldn’t support him,” Tillman added, noting it made profits for eight years under his stewardship.

Better Capital did not immediately respond to a request for comment.

Jaeger has appointed AlixPartners as administrators, putting around 700 jobs at risk. Horobin is understood to have left the business.

AlixPartners said Jaeger was “unable to attract suitable offers despite a lengthy and well-publicised sales process”.

Last month Better Capital sold Jaeger’s debt to a mystery buyer, believed to be Peacocks owner Edinburgh Woollen Mill, for £7 million. Better Capital, which bought Jaeger for £19.5 million and invested more, made a loss of around £62 million on the business.