<\/a><\/p>\nAdministrators at FRP Advisory added: \"Recent months have proven extremely challenging for many retailers, even those that were trading well before the pandemic, including the teams at Edinburgh Woollen Mill and Ponden Home. The administrations will provide some further protection while we continue our search for buyers to secure the long-term futures for both businesses.<\/strong>\"<\/p>\n\"Regrettably, the impact of COVID-19 on the brands\u2019 core customer base and tighter restrictions on trading mean that the current structure of the businesses is unsustainable and has resulted in redundancies. We are working with all affected members of staff to provide the appropriate support.<\/strong>\"<\/p>\nSeparately, EWM Group has been granted a further two-week extension by the High Court to continue discussions with potential suitors for its other brands Peacocks and Jaeger.<\/strong><\/p>\nThe retailer said last month that it would go bust without filing for an intention to appoint administrators with the High Court, with 24,000 jobs in the balance.<\/p>\n
It is understood there is interest in parts of the business but a further 100 to 150 stores across the group are being earmarked for closure<\/strong> while talks continue with landlords on reducing rents.<\/p>\nDiscussions on the sale of the Peacocks brand were also hit by lockdown restrictions in Wales, with the company\u2019s headquarters and distribution centre based in Cardiff.<\/p>\n
A spokesman for EWM Group said: \u201cOver the past month we explored all possible options to save Edinburgh Woollen Mill and Ponden Home from going into administration, but unfortunately the ongoing trading conditions caused by the pandemic and lockdowns proved too much.<\/p>\n
\u201cIn the case of Peacocks and Jaeger we are speaking to a number of parties who are interested<\/strong> in either buying parts of the business or offering investment, and those conversations are ongoing.\u201d<\/p>\nThe company is reportedly in talks with the owner of shirt-maker TM Lewin \u2013 Torque Brands \u2013 to buy Jaeger and other parties, including Frasers Group, are said to be interested.<\/p>\n
It is also reported to be trying to save Peacocks, with a capital injection from US hedge fund Davidson Kempner.<\/p>\n
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Edinburgh Woollen Mill collapses into administration - TheIndustry.fashion<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n