EWM news and archive

Peacocks bought out of administration, plans to save 200 stores

Collapsed British fashion chain Peacocks has been bought out of administration. The company has been snapped up by an international investment consortium lead by the discount retailer’s former chief operating officer, Steve Simpson. The consortium has agreed to provide “sufficient working capital” to enable the business to emerge from...

BusinessFeatured

Jaeger announces job cuts and store closures

A week after falling into administration, Jaeger has announced it is to cut 103 jobs and close 13 stores and concessions. The Edinburgh Woollen Mill (EWM) Group-owned fashion brand, along with EWM Group-owned discount retailer Peacocks, appointed administrators from advisory firm FRP last week following failed efforts by management to secure a...

BusinessFeatured

Jaeger and Peacocks fall into administration

Edinburgh Woollen Mill (EWM) Group’s Jaeger and Peacocks chains have fallen into administration. Tony Wright and Alastair Massey, partners at advisory firm FRP, were appointed joint administrators on Thursday following efforts by management to secure a solvent sale of both businesses. London-based Jaeger has 76 stores and concessions and 347...

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

TM Lewin owner Torque Brands mulls Jaeger takeover

The owner of British men’s formalwear retailer TM Lewin is reportedly in talks for a potential takeover of Jaeger. According to Sky News, Torque Brands is one of a small number of bidders for the company. Torque Brands, which is a vehicle set up by private equity house SCP, acquired TM Lewin in June in a move that resulted in the retailer’s...

BusinessFeatured

Edinburgh Woollen Mill Group to close 50 stores, cut 600 jobs

Philip Day’s Edinburgh Woollen Mill Group is to close 50 stores, putting around 600 jobs at risk. While it is not certain which stores will be closed, it is known the closures will mainly affect the Edinburgh Woollen Mill and Peacocks chains, with most job cuts affecting shop-floor staff. The group, whose portfolio also includes brands Jaeger...

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...

Fashion

Edinburgh Woollen Mill mulls legal action against BGMEA

Edinburgh Woollen Mill Group (EWM) has said it is mulling legal action against the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) over “baseless claims” which risk “putting the company at jeopardy”. The company, which owns brands Bonmarché, Peacocks and Jaeger, said claims in the media that it still owes 26.7 million pounds...

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...

Retail

Jack Wills to be sold to either Sports Direct or Edinburgh Woollen Mill Group

British lifestyle brand Jack Wills has two potential buyers to avoid it falling into administration. Sports Director founder Mike Ashley and Edinburgh Woollen Mill’s billionaire CEO Philip Day are the last bidders left to buy the company, according to Sky News. Devon-based Jack Wills employs over 1,800 people and operates 110 stores, including...