Jaeger owner may sell stake

Jaeger owner entrepreneur Harold Tillman may be selling his stake in the high street chain. Tillman has asked advisers to look at his options for selling. His decision, which has emerged a week after the chain announced a 16% rise in sales to £82.2m and earnings before interest, tax, depreciation and amortisation of £6.1m, comes after approaches from potential buyers.

Tillman, who has recently taken over as chairman of the British Fashion Council from Sir Stuart Rose and who also has other retail and restaurant interests, including Allders of Croydon, said it was time to look at the next stage of growth for the Jaeger brand. He has asked UBS to examine a strategy for the development of the brand.