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Retailer Edinburgh Woollen Mill has been bought out of administration in a deal that saves 1,453 jobs and 246 stores. Edinburgh Woollen Mill Group (EWM) became one of a string of retailers embarking on a major restructuring during the Covid-19 pandemic when it called in administrators in October. For the very latest UK news, with sport, health, science, covid. Andrew Harker / Shutterstock.com. Administrators at FRP confirmed 246 stores will be saved by Purepay Retail, which is controlled by former owner Philip Day. The deal will rescue Dubai-based British billionaire Philip Day’s EWM Group which has four Edinburgh Woollen Mill stores in the region - two in Perth, one in Blairgowrie and another in Pitlochry. The high street has faced a double blow since coronavirus restrictions added to the pressure already being exerted by changing shopping habits as customers turn to online retail. By clicking 'Create Account and Subscribe' you agree to us creating an account for you and subscribing you to our newsletter in accordance with our Privacy Policy and Legal Notice.Emails, which may be sent daily or less frequently, may include marketing elements. Stay informed. Jan 12 (Reuters) - British retailers Edinburgh Woollen Mill and Ponden Home, owned by businessman Philip Day's EWM Group, have been rescued and … By clicking 'Sign in and Subscribe' you agree to us subscribing you to our newsletter in accordance with our Privacy Policy and Legal Notice.Emails, which may be sent daily or less frequently, may include marketing elements. Latest News Today. The rescue comes in a deal that will protect 1,453 jobs and keep 246 stores from … Edinburgh Woollen Mill, Bonmarché and Ponden Home have been bought out of administration, safeguarding almost 2,000 jobs. British retailers Edinburgh Woollen Mill and Ponden Home, owned by businessman Philip Day's EWM Group, have been rescued and sold to a consortium of international investors, saving 1,453 … Please ensure your password has at least 8 characters, an uppercase and a lowercase letter, and a number or symbol. Edinburgh Woollen Mill shopfront. Another sister brand to EWM, fashion chain Peacocks, remains in … Free Standard Delivery (over £50) - FREE. Don't miss out! Read about our approach to external linking. (Alliance News) - The owner of Edinburgh Woollen Mill is close to securing a deal which may rescue the brand after it crashed into administration last year. The new owners plan to operate 246 stores across both the Edinburgh Woollen Mill and Ponden Home brands, retaining 1,453 staff in those stores, the … Edinburgh Woollen Mill rescue saves 1,453 jobs. Edinburgh Woollen Mill rescue saves 1,453 jobs January 12, 2021, 9:46 a.m. Edinburgh Woollen Mill stores – reliant on tourists and elderly shoppers – are unlikely to survive. Italy plunges into … For now, EWM Group's stores will continue trading while insolvency specialists spend 10 days preparing an urgent review ahead of further action, according to Sky News. Home News Edinburgh Woollen Mill. Tweet All of the latest men's and women's Harris Tweed and knitwear styles including jumpers and cardigans. Contributor. The owner of Edinburgh Woollen Mill has secured a deal to rescue the brand and its sister business Ponden Homes from disappearing for good after it crashed into … Why has South Africa not started vaccinating? Other major brands including Topshop-owner Arcadia and Debenhams have also gone into administration, costing hundreds of jobs. Administrators say the deal is the best chance to save stores but the collapse leaves more than 1,300 out of work. We will not share your email address with any third parties. Retailer Edinburgh Woollen Mill has been bought out of administration in a … Edinburgh Woollen Mill on its own posted a profit after tax of £12 million for the 27-week period ending March 2, while Peacocks posted a profit after tax of £17 million. An existing account was found for this email address. However, 85 Edinburgh Woollen Mill and 34 Ponden Home stores have been permanently closed as part of the agreement. A deal has been agreed for the sale of the Edinburgh Woollen Mill, Ponden Home and Bonmarché chains, which were on the brink of closure. The Edinburgh Woollen Mill Group also owns retailers Jane Norman, Peacocks, Austin Reed and Jaeger. The deal means the survival of Edinburgh Woollen Mill and Ponden Home brands in a complex transaction involving a consortium of international investors. A closed branch of The Edinburgh Woollen Mill in Edinburgh on October 9. Edinburgh Woollen Mill and Ponden Home collapse with 2,900 jobs at risk The fall into administration of two chains owned by retail tycoon Philip Day is the latest blow to the high street The collapsed retail giant Edinburgh Woollen Mill has been saved. The BBC is not responsible for the content of external sites. Sky video . VideoBiden's Iran nuclear challenge, French students protest at Covid mental health toll. … Search. Stay informed. More. British retailers Edinburgh Woollen Mill and Ponden Home, owned by businessman Philip Day's EWM Group, have been rescued and sold to a consortium of international investors, saving 1,453 … The joint administrators to clothing retailer The Edinburgh Woollen Mill and sister brand Duvetco Limited (Ponden Home) have completed the sale of the businesses to Purepay Retail Limited - securing some 1,453 jobs and the future of 246 stores. The businesses went into administration last … The owner of Edinburgh Woollen Mill (EWM) has secured a deal to rescue the brand and its sister business Ponden Homes – in a move securing the … Edinburgh Woollen Mill Group is on the brink of collapse, putting 24,000 jobs on the UK’s high street at risk.. Sign up for a FREE NewsNow account and get our email alert of the day's top stories from the UK and around the world.

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