Philip Day’s Edinburgh Woollen Mill owes creditors over £190m

Edinburgh Woollen Mill Group FRP Advisory administration
Edinburgh Woollen Mill is part of EWM Group
// 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:


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.

Click here to sign up to Retail Gazette’s free daily email newsletter

12 COMMENTS

  1. 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.

  2. 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.

  3. 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.

  4. £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

  5. 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.

LEAVE A REPLY

Please enter your comment!
Please enter your name here