Categories: Life Style

Edinburgh Woollen Mill saved in deal, 1500 jobs protected


Pic: Edinburgh Woollen Mill


A deal lately saved collapsed UK retail firm Edinburgh Woollen Mill (EWM). 2 hundred and fifty shops and 1,500 jobs shall be protected in consequence. Retailers Edinburgh Woollen Mill, Ponden Houses and Bonmarche, owned by Philip Day’s EWM Group, shall be bought to a consortium of worldwide traders, in keeping with a prime UK English-language day by day.

Dubai-based businessman Day’s Jaeger shall be taken over by Marks & Spencer in a separate settlement.

The brand new proprietor will function below licence throughout each manufacturers, saving 1,347 store staff, 72 workers at head workplace and an extra 34 jobs on the firm’s Carlisle distribution centre.

Nevertheless, 85 Edinburgh Woollen Mill and 34 Ponden Dwelling shops have been completely closed as a part of the settlement. One other sister model of EWM, style chain Peacocks, stays in administration.

EWM will proceed to be managed by Day with new traders repaying him the cash owed as a secured creditor. Unsecured collectors, together with landlords and suppliers, are unlikely to get again any cash owed.

In November excessive avenue chains Edinburgh Woollen Mill and Ponden Dwelling collapsed into administration with 866 jobs axed. A complete of 64 shops—56 Edinburgh Woollen Mill and eight Ponden Dwelling—completely closed.

The remaining 328 EWM and 65 Ponden Dwelling shops continued to commerce below pandemic-induced restrictions, whereas a purchaser was sought.

Fibre2Fashion Information Desk (DS)


A deal lately saved collapsed UK retail firm Edinburgh Woollen Mill (EWM). 2 hundred and fifty shops and 1,500 jobs shall be protected in consequence. Retailers Edinburgh Woollen Mill, Ponden Houses and Bonmarche, owned by Philip Day’s EWM Group, shall be bought to a consortium of worldwide traders, in keeping with a prime UK English-language day by day.

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