Jaeger to exit Regent Street flagship

British fashion retailer Jaeger is due to exit its Regent Street flagship store, where it has been a stalwart of the West-End for 80 years.

The retailer will move to a smaller space in Chelsea, West London as American accessories brand Coach will take up its current premises. The news comes as a sale of the business has been stalled after bids failed to reach its asking price.

Despite receiving several offers, Jaeger's owner Better Capital has decided to provide further investment according to the Sunday Telegraph. Investors were recently told the business was worth 37 million pounds.

Jon Moulton, the private equity tycoon who owns Jaeger via his private equity vehicle, told the newspaper: "We did get several offers for it [Jaeger]. We chose not to pursue them."

The offers, fewer than five, came from private equity and from other retailers that were keen to expand, the report said.

Moulton bought Jaeger in 2012 and since then Better Capital has pumped 63 million pounds into the retailer, including an injection of 10 million pounds last autumn.

Image:Jaeger Regent Street