Edinburgh Woollen Mill news and archive

Peacocks, Bonmarché and EWM return to profitability following administrations

High street retailers Peacocks, Edinburgh Woollen Mill (EWM) and Bonmarché, part of Purepay Retail Ltd’s portfolio, have each reported a return to profitability after filing for administration in 2020. Together with sister brand Ponden Home, the EWM and Bonmarché’s parent company saw a “robust” turnover for the trio of 195.094 million pounds for...

Business

Rescue deal struck for Edinburgh Woollen Mill and Bonmarché

Edinburgh Woollen Mill (EWM), Bonmarché and Ponden Home - which were all part of Philip Day’s collapsed EWM Group - have reportedly been saved after their administrators struck a deal with international investors. Administrators at FRP Advisory have issued sale contracts to the potential buyer, in a deal that could save up to 2,500 jobs and 300...

BusinessFeatured

Edinburgh Woollen Mill falls into administration

Edinburgh Woollen Mill (EWM) has fallen into administration, putting thousands of jobs at risk. The fashion retailer has 384 stores and 2,571 staff across the UK. Owner EWM Group has also put its homeware chain Ponden Home, which had 73 stores and 329 employees, into administration. Administrators from FRP Advisory said Friday that 56 Edinburgh...

Business

Edinburgh Woollen Mill Group seeks extension of creditor protection

Edinburgh Woollen Mill (EWM) Group is reportedly seeking more time to secure a rescue deal as the company teeters on the brink of administration. The group, whose portfolio includes brands Jaeger, Peacocks and Bonmarché, earlier this month filed a notice to appoint FRP Advisory as administrators with the notice period due to expire on Thursday....

Business

Jaeger owner Edinburgh Woollen Mill on brink of administration

Philip Day’s Edinburgh Woollen Mill Group (EWM) has filed a notice to appoint administrators in a bid to save the company amid “brutal” trading conditions, a move reportedly putting 24,000 jobs at risk. The group, whose portfolio includes brands Jaeger and Peacocks, said its stores will continue to trade as insolvency firm FRP spends 10 days...

Business

Philip Day seeks valuation of Peacocks

Retail tycoon Philip Day is reportedly launching a valuation process for discount retail chain Peacocks. The Sunday Times reported that Day appointed advisory firm FRP to find potential buyers for Peacocks and Edinburgh Woollen Mill, though sources close to the matter have stressed the process is merely a valuation and only concerns Peacocks. If...

BusinessFeatured

Edinburgh Woollen Mill profits rise, losses narrow at Jaeger

Philip Day’s Edinburgh Woollen Mill Group (EWM Group) has reported strong profit growth in its latest financial figures, while losses at its premium fashion brand Jaeger have considerably narrowed. The group, which also owns brands such as Peacocks, Austin Reed and Jane Norman, reported a profit after tax for the 27-week period to 2 March 2019...

BusinessFeatured

EWM saves 800 jobs after acquiring Berwin & Berwin out of administration

London - Menswear supplier Berwin & Berwin has been saved from administration after being acquired by Edinburgh Woollen Mill Group (EWM), thereby rescuing 800 jobs. The acquisition signals EWM Group's commitment to expanding its premium menswear portfolio. The deal comes after Berwin & Berwin collapsed into administration earlier this month....

Business |UPDATE

Edinburgh Woollen Mill owners sets his sights on Oasis, Coast & Warehouse

London - Philip Day, the owner of Edinburgh Woollen Mill Group (EWM) is said to have set his sight on acquiring womenswear retailers Warehouse, Oasis and Coast as he looks to expand EWM portfolio. Day is thought to be after the three brands held by Icelandic bank Kaupthing, which were officially put up for sale last November, according to The...

RetailFeatured

Philip Day confirms acquisition of Jaeger as Days opens

London - Philip Day, retail entrepreneur and chief executive of Edinburgh Woollen Mill (EWM), has confirmed that he is the mystery buyer who acquired premium label Jaeger last month. The confirmation comes as the company closes its acquisition of the fashion brand, opens its first department store, Days, in Carmarthen, Wales and continues to...

Business

Edinburgh Woollen Mill said to be in the lead to acquire Jaeger

London - Philip Day, owner of The Edinburgh Woollen Group, is said to be in the lead to acquire struggling high street retailer Jaeger. Entrepreneur and billionaire Day, whose Group previously took over struggling menswear retailer Austin Reed, has been pegged as the mostly likely to take over Jaeger from a group of bidders which includes Harold...

Business |UPDATE Featured

Administrators unable to save Austin Reed, 1,000 jobs lost

London - The curtain has fallen for 116 year old formalwear retailer Austin Reed, as administrators failed to find a buyer to save the collapsed brand. Austin Reed is set to shut 120 stores by the end of the month resulting in the loss of 1,000 jobs. Adiministrator AlixPartners was unable to find a viable buyer to take over Austin Reed full high...