// 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”.
- Hundreds of Bonmarché jobs at risk as some stores may never reopen
- Mike Ashley’s Frasers Group “frustrated” by Peacocks rescue deal
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.”