Edinburgh Woollen Mill Group new owners to buy cancelled stock from suppliers

Edinburgh Woollen Mill Group John Herring
Edinburgh Woollen Mill Group owns Peacocks, Jaeger, Bonmarché, and the eponymous Edinburgh Woollen Mill
// Edinburgh Woollen Mill (EWM) Group said its new owners will buy stock that is sitting in factories ready to ship, made for previously cancelled orders
// The Bangladesh Garment Manufacturers and Exporters Association wrote to the group earlier this week to ask for money owed for clothing goods cancelled in March 2020
// EWM Group, which owns Peacocks, Jaeger, Bonmarché, and Edinburgh Woollen Mill, collapsed into administration last year

Edinburgh Woollen Mill (EWM) Group chairman John Herring has reportedly told suppliers in Bangladesh that its new owners will purchase cancelled orders that are sitting in factories ready to be shipped.

The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) wrote to Herring earlier this week to ask for money owed for clothing goods cancelled in March last year, Drapers reported.

This is to “preserve the interest and survival of its members, its stakeholders, and the international image of the industry during this critical period”.


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It also asked for the goods sitting in its members’ factories to be collected.

EWM Group, which owns Peacocks, Jaeger, Bonmarché, and the eponymous Edinburgh Woollen Mill, collapsed into administration last year.

The retailers were subsequently bought back by an international investment consortium, backed by EWM’s chief operating officer Steve Simpson.

Suppliers became unsecured creditors, to be dealt with by administrators FRP Advisory and RSM.

“The EWM Group has no shareholding in the company of the new owners and therefore has no control over its day-to-day operations,” Herring wrote to president of the BGMEA, Faruque Hassan.

“The new owners are happy to take the stock that sits in Bangladesh factories that is finished and ready to ship. We are also of the understanding that they have credit facilities in place, ready to transact.”

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6 COMMENTS

  1. I bet they are not buying at full price. This has been one massive scam to rid the company of debts, buy stick for a fraction of its value and pay virtually no rent leaving everyone else to pay for the cost of those huge tax free dividends sent to Dubai for years.

  2. They are not new owners. It’s owner by the same people under a different name. They will be rebuying their own cancelled ordered no doubt at a massive discount

  3. Nice of ewm to offer to buy the stock they already ordered then cancelled at the market price. To buy back at the discounted price they want to pay.
    TRADEMARK PHILIP DAY. Rich man ripping off the poor again. NO MORALITY WHAT SO EVER.

  4. Why are none of the EWM shops in Dobbies garden Centres open. There are 45 still shut and staff still on furlough!!

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