Retail tycoon Philip Day secures deal to save Edinburgh Woollen Mill’s future Retail tycoon Philip Day secures deal to rescue Edinburgh Woollen Mill Billionaire businessman Philip Day has reportedly secured a deal with overseas investors to rescue retailers Edinburgh Woollen Mill, Ponden Home and Bonmarche, in a move that could save around 2,500 jobs. Day is expected to use his secured creditor status to acquire the brands’ assets from administrators to then sell them on to Middle Eastern [...]
Edinburgh Woollen Mill Group still owes £167m to unsecured creditors following collapse Philip Day Philip Day’s Edinburgh Woollen Mill Group empire is understood to still owe money to unsecured creditors following its collapse almost three years ago. The cluster of retail assets, which included Jaeger, Peacocks, Bonmarché, and Edinburgh Woollen Mill, fell into administration in 2020 after sales declined during the pandemic. However, administrator reports for the brands now [...]
Philip Day’s Peacocks nears deal to buy Bonmarche out of administration Womenswear retailer Bonmarche is close to being bought out of administration by rival firm Peacocks, in a deal that could see 30 stores close before Christmas. Peacocks, which is owned by billionaire businessman Philip Day, has been named the preferred bidder for the embattled retailer, administrator FRP Advisory said this morning. However, negotiations are ongoing [...]
Philip Day tables bid to avoid Jack Wills administration August 5, 2019 British billionaire Philip Day is taking on rival bidder Mike Ashley to keep struggling retailer Jack Wills out of administration. Day’s Edinburgh Woollen Mill Group’s (EWM) offer for the “preppy” fashion brand would seek to avoid a pre-pack administration, it was revealed as the bidding war between the two retail tycoons entered its final hours. [...]
Mike Ashley and Philip Day in battle to buy Jack Wills August 3, 2019 High street giants Mike Ashley and Philip Day are embroiled in a battle to takeover Jack Wills, which is on the brink of administration. The billionaires’ companies, Sports Direct and Edinburgh Woollen Mill, are the two remaining bidders for the fashion chain, according to Sky News. Read more: Majestic Wine sells brand and stores for [...]
Philip Day on track to delist Bonmarche as Artemis sells July 10, 2019 Billionaire Philip Day is on track to take embattled retailer Bonmarche private after Artemis, the firm’s last major institutional investor, sold its stake. Artemis has offloaded its 12 per cent stake in the business to Spectre, Day’s Dubai-based holding company. Read more: Bonmarche makes dramatic U-turn on takeover bid The transaction brings Day’s stake up [...]
Philip Green’s Arcadia ‘faces collapse’ in the coming days November 27, 2020 Sir Philip Green’s retail empire Arcadia, owner of Topshop, could appoint administrators early next week. Sky News reported the move could put 13,000 jobs at risk. The appointment of administrators could happen as early as Monday, although one source close to the story told Sky News the plan had not been finalised and could be [...]
Bonmarche shares plunge 25 per cent as it U-turns on Philip Day bid June 26, 2019 Shares in Bonmarche plunged more than 25 per cent after the retailer reversed its view on a cut-price takeover offer from billionaire Philip Day due to poor trading in the first quarter. In a dramatic U-turn the French-themed womenswear chain said it now believes Day’s offer is “fair and reasonable”, and urged shareholders to accept [...]
Peacocks rescued from administration, saving 2,000 high street jobs April 6, 2021 High street retail chain Peacocks has been rescued from administration after being bought by an investment consortium, saving around 2,000 jobs. Edinburgh Woollen Mill Group, the retail empire owned by billionaire businessman Philip Day, has agreed to support the sale of its high street brand. EWM Group said it had backed a bid by an [...]
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