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Edinburgh Woollen Mill group explores valuation of Peacocks

Lauretta Roberts
20 September 2020

Edinburgh Woollen Mill group is carrying out a valuation process for its value fashion chain Peacocks.

It is understood that if a sale does go head the business, which was acquired out of administration by Philip Day's group in 2012, would be sold as a going concern.

However no timetable has been set for a sale of the 550-store chain and the move is said to be "exploratory' at this stage.

Contrary to media reports this weekend, the Edinburgh Woollen Mill brand is not part of the  valuation process, which is being handled by FRP Advisory.

The move comes after the group received unsolicited interest in its heritage fashion brands, which include Jaeger, Austin Reed and Jacques Vert.

The approaches were said to have come from a number of “international investors”, including at least one in China, attracted by the brands’ long histories and heritage. FRP is also fielding interest in these brands.

Day has built up his retail empire typically by buying brands out of administration. He acquired Edinburgh Woollen Mill in 2002 and went on to buy Jane Norman in 2011, Peacocks in 2012, Austin Reed in 2016, Jaeger in 2017 and in 2018 he acquired the former Calverton brands, which included Jacques Vert, Dash, Windsmoor and Eastex. Last year the group acquired distressed value chain Bonmarche.

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