Retailer in trouble
Edinburgh Woollen Mill ‘to shut 50 stores’
Edinburgh Woollen Mill: some shops likely to shut
Edinburgh Woollen Mill is expected to close 50 of the group;’s stores, placing around 600 jobs at risk.
The majority of the closures will take place in its Edinburgh Woollen Mill and Peacocks chains, says the Telegraph.
Earlier this month, EWM confirmed it was appointing FRP advisory as administrators to conduct a review of the business.
In an update the group said it was “responding to the harsh trading conditions caused by the impact of the Covid-19 pandemic and a recent reduction in its credit insurance” and the review is part of a drive to “secure their future”.
The group filed a notice to appoint administrators with the High Court on 9 October which it said will give the business “necessary breathing space” while it assesses the various options available.
There have been a number of expressions of interest for various parts of the group and it added these are being “assessed along with all other options”.
Property Week recently revealed that a number of landlords had “reacted angrily” to EWM’s administration plans, questioning why a “previously very profitable company” was taking such action.