Fashion chain Jaeger has said it will axe 103 jobs and shut 13 stores, a week after falling into administration.

The retailer said it has cut 47 in-store positions and 56 head office and distribution roles as part of a restructuring.

The chain was placed into administration last week by owner, retail billionaire Philip Day.

Administrators have said they will continue to search for a buyer for the business but made the cuts as Jaeger was "unable to sustain its current structure".

READ MORE: Renewables giant backed to build world's biggest offshore windfarm

Jaeger has reduced its stores estate to 63 outlets and concessions, and now employs 244 staff as a result.

Mr Day hired specialists from FRP Advisory to oversee the insolvency of Jaeger and sister business Peacocks, which operates 423 stores with 4,369 staff.

The retail tycoon's EWM Group had already placed its Edinburgh Woollen Mill and Ponden Home business into administration earlier this month.

Tony Wright, joint administrator of Jaeger Retail Limited and partner at FRP, said: "We continue to hold discussions with interested parties regarding a possible sale.

"Regretfully, redundancies have been made across a number of head office and store roles.

"We're working with staff to support them and help make any claims to the Redundancy Payments Service."

Jaeger's online shopping operations, including its online brands Austin Reed and Jacques Vert, remain open and continue to trade.

BiFab accuses Scottish Government over financial claims

Accusations have been made against the Scottish Government over allegations a lack of financial support from BiFab’s Canadian owner is to blame for the company’s problems.

Last month a £2 billion deal collapsed for Burntisland Fabrications (BiFab) to manufacture eight wind turbine jackets at its yards in Methil, Fife, as part of the Neart Na Gaoithe (NnG) project.

READ MORE: The UK and Scottish Governments have said they have no legal route to provide further financial support to the company, which was acquired by Canada-based JV Driver in April 2018 after the Scottish Government rescued BiFab in 2017.

Arcadia 'on brink of collapse'

Sir Philip Green's retail empire is on the brink of collapse, with around 15,000 jobs at risk.

READ MORE: The Arcadia Group, which runs the Topshop, Dorothy Perkins and Burton brands, is expected to appoint Deloitte as administrators in the coming days.

Sign up

You can now have the bulletin and the top business news stories sent direct to your email inbox twice-daily, and Business Week for the weekly round-up on Sunday:

https://www.heraldscotland.com/my/account/register/