// Edinburgh Woollen Mill owes creditors around £192 million
// The retailer collapsed into administration in November
Edinburgh Woollen Mill reportedly owes its creditors, including suppliers and landlords, around £192 million, according to a report from administrator FRP Advisory.
The retailer, owned by Philip Day’s Edinburgh Woollen Mill Group – which also includes the Country Casuals chain – collapsed into administration in November.
A notice of administrators’ proposals report shows that as of December 24, all creditors were owed £191.6 million, Drapers reported.
READ MORE:
- Edinburgh Woollen Mill: What went wrong?
- Frasers Group warns Edinburgh Woollen Mill administrators against “unfair” deal
At the time of administration, the group permanently closed 56 Edinburgh Woollen Mill stores along with eight Ponden Home shops, axing 866 jobs and putting a further 1821 jobs under threat.
The remaining 328 Edinburgh Woollen Mill and 65 Ponden Home stores will continue to trade, Covid-19 restrictions permitting, while a buyer is sought.
Among the suppliers and landlords owed include:
- Bengal Knittex Limited – $576,746 (£423,524)
- Clipper Logistics – £179,429
- Colliers International, 328-Bromsgrove – £36,735
- Colliers International, 50 George Street – £31,044
- Craghoppers Limited (concession), Manchester – £43,867
- Mountain Warehouse, London – £31,115
- National Grid UK Pension Scheme – £115,628
- Pavers Limited, York – £22,507
- Regatta Limited, Manchester – £21,552
- Riverside Sweaters Limited, Dhaka – $62,860 (£46,160)
- Skopes (concession), Leeds – £15,695
- Smile Outfits Limited, Bangladesh – $672,613 (£493,923)
- Southern Designers Limited, Bangladesh – $192,778 (£141,563)
- Tarakie Garments (Voguetex), Kohuweta $62,072 (£45,581)
- Trendywear, Kadawatha £278,771
- Vijay Fashions, Manchester £33,396
Meanwhile, Peacocks, which is also owned by Edinburgh Woollen Mill Group, filed for administration in November alongside Jaeger, Edinburgh Woollen Mill, and Ponden Home.
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Wow. So it seems likely that those Bangladesh supplier reports from earlier in 2020 were true. What a shocking state of affairs. Feel for the staff who would have had no input into the mess.
Of course all the reports were true, but I bet you any money this is not the end of the Philip Day Empire. He’s just closed another bunch of shops whilst hiding under the Covid-19 umbrella, staff told on Saturday that they would be out of work by the end of the week.
Which staff?
Unbelievable a Billionaire behaving in such a way! Oh wait a minute that’s how he got his money in the first place by shafting people, Day and Green are like 2 peas in a pod. Pension fund needs Gov action to stop it being fleeced.
£140 million of this amount is owed to EWM and its creditors directly if you read through the companies house document. While it is true the Bangladeshi factories are owed money, I don’t think its to the extent of £27 million that was reported
which stores have closed and where.?
The textile industry is harsh, and always will be.
EWM stores and Ponden Home are closing 160 stores in the next 2 weeks and are only notifying staff a day before they close for good without any warning.
They are n liquidation as we speak….
Packing a store up as we speak…donkey work, middle aged women lugging massive heavy boxes up and down stairs for minimum wage.
Yep….. Me too
RJ… I hope you find a better job in the future. Lol that wouldn’t take much thought would it.