After the news yesterday that Jon Moulton's Better Capital purchased the debts of Jaeger and took control of the business, sister company Aquascutum has been lined up for administration, today we understand.
Looking at the Jaeger accounts it is owed some £11m by Aquascutum. With the inter company debt looking to be written off, we are sure the banks will have been pleased to "get out" of Jaeger.
Heavily leveraged retailers need to restructure debts or be taken over as we blogged yesterday. Many more will use the CVA tool. KSA group has extensive experience in closing failing stores and restructuring unsecured and secured debts. Did you know that a CVA can terminate lease obligations, terminate employees contracts and cut costs? Read our 82 page Experts CVA Guide here (free book to download).