Job losses look set to hit west London with the collapse into administration of fashion chain Jaeger.

The retailer’s corporate head offices are based in Notting Hill and it has concessionary stores in department stores such as Harrods, Peter Jones in Chelsea and the John Lewis branch in Oxford Street.

Jaeger also opened a new store in Marylebone High Street towards the end of 2016.

In total, nearly 700 jobs around the country are at risk, with AlixPartners appointed to oversee the administration process following failed attempts by the company’s private equity owner, Better Capital, to sell the struggling business.

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Jaeger - which employs around 680 staff across 46 stores, 63 concessions, its HQ in Evesham Street and a logistics centre in Kings Lynn - had been on the market for around £30 million.

However, no buyer materialised and last week Better Capital sold Jaeger’s debt to a company understood to be controlled by the retail billionaire Philip Day, who heads up Edinburgh Woollen Mill.

A statement by AlixPartners explained he request was made after Jaeger was “unable to attract suitable offers despite a lengthy and well-publicised sales process”.

Insiders now expect most of Jaeger’s stores to close down, although the brand is likely to survive as part of the Edinburgh Woollen Mill stable, which also includes Jane Norman, Peacocks and Austin Reed.

Joint administrator Peter Saville, of AlixPartners, said: “Regrettably despite an extensive sales process it has not been possible to identify a purchaser for the business.

“Our focus now is in identifying an appropriate route forward and work with all stakeholders to do this. We will ensure that we communicate further as this process unfolds.”

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