Edinburgh Woollen Mill, a popular fashion group owned by retail tycoon Philip Day, has recently made headlines with the announcement of the suspension of its concessions within House of Fraser. The company, known for its brands like Jaeger, Jane Norman, and Calvetron Brands, operates 30 concessions within the department store chain. This decision comes as negotiations are underway regarding House of Fraser’s substantial debt to EWM, which currently stands at over £2 million.
In a recent communication to employees, EWM instructed staff to remove all stock from display and to cease any sales at their House of Fraser concessions. The message emphasized the importance of having a staff member present at all times to ensure that no goods are sold during this period of suspension.
The suspension of operations at House of Fraser follows the rejection of Philip Day’s £100 million bid to acquire the struggling department store chain. The uncertain financial situation of House of Fraser has created disruptions for businesses like EWM and their partners.
This recent development showcases the challenges that retail businesses face in a constantly evolving market. With the future of House of Fraser uncertain, the fate of its concessions and partners, including Edinburgh Woollen Mill, hangs in the balance. Both parties are engaged in negotiations in hopes of reaching a resolution that is mutually beneficial.
As EWM and House of Fraser navigate this challenging time, the retail industry as a whole is closely watching the outcome of these negotiations to better understand the impact on the sector.
To learn more about Edinburgh Woollen Mill and their brands, visit their official website here. For updates on the situation between EWM and House of Fraser, you can follow the latest news on retail industry websites like Retail Gazette here.
