Edinburgh Woollen Mill cancels dividend as it eyes ailing rivals

Edinburgh Woollen Mill

Philip Day’s Edinburgh Woollen Mill (EWM) has cancelled its dividend payout this year as it prepares to buy up rival retailers battered by tough conditions on the high street.

The billionaire, who lives in Switzerland but has an office in Dubai and a castle in Cumbria, owns about 1,100 high street stores under brands including Peacocks, Jaeger and Austin Reed.

Read the full article on The Guardian.