
Edinburgh Woollen Mill’s Jaeger and Peacocks brands have gone into administration as no buyer has been found so far for the two businesses.
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Edinburgh Woollen Mill’s Jaeger and Peacocks brands have gone into administration as no buyer has been found so far for the two businesses.
EWM Group’s Edinburgh Woollen Mill and Ponden Home chains went into administration at the end of last week, jeopardising thousands of jobs.
Frasers Group is continuing its acquisition spree among distressed brands in the UK and while it’s reported to be interested in Debenhams, the company is also said to be looking at Jaeger, Austin Reed and Jacques Vert.
The company behind the recent takeover of shirtmaker TM Lewin is also eyeing up-for-sale Jaeger, according to a news report.
The company wants to delay its rescue plan to save parts of the UK business. It's expected to apply for a 10-day extension of creditor protection as lockdowns in Wales, where it has its HQ, are hampering negotiations.
Philip Day, the retail billionaire behind Edinburgh Woollen Mill, could be preparing to buy back the budget fashion chain Peacocks after an administration filing, while exiting the rest of the business.
EWM on Friday confirmed that 50 of its stores will close with the loss of 600 jobs. Most of the closures are focused on Edinburgh Woollen Mill and Peacocks with the job losses largely being shop floor workers.
UK-based EWM Group, which owns the Edinburgh Woollen Mills, Peacocks and Jaeger brands, among others, could be on the verge of appointing administrators as the Covid crisis cuts a swathe through UK high street brands.
There’s speculation this week that value fashion chain Peacocks might be sold at some point as its owner Philip Day seeks a valuation for the chain.
The Jaeger and Austin Reed owner has apparently been approached by hopeful buyers interested in its heritage brands. But sources said the approaches were unsolicited and it hasn't been looking to sell the brands