Philip Day’s Edinburgh Woollen Mill owes unsecured creditors £167 million after collapse

Unsecured creditors are still owed £167 million after the collapse of Philip Day’s Edinburgh Woollen Mill Group empire, according to The Times.

The group's businesses, including Jaeger, Peacocks, Bonmarché and Edinburgh Woollen Mill, fell into administration in 2020 after sales were hit by the pandemic.

Administrator reports for the brands show that the £167 million owed to unsecured creditors has not been paid following the group's collapse.

Documents show that each of the parties are due to receive dividends worth up to £600,000 - £1.8 million in total.

Bonmarché, which collapsed owing unsecured creditors £23.5 million, was moved to creditors’ voluntary liquidation in 2021, with reports showing that it did not have enough funds to pay a dividend.

Jaeger was acquired by Marks & Spencer in a £7 million deal, which excluded the brand’s 63 high street stores.

The other brands were bought by an international consortium led by the former chief operating officer of Edinburgh Woollen Mill and packaged into a company named Purepay Retail.