Frasers Group is continuing its acquisition spree among distressed brands in the UK and while it’s reported to be interested in Debenhams, the company is also said to be looking at Jaeger, Austin Reed and Jacques Vert.
The company wants to delay its rescue plan to save parts of the UK business. It's expected to apply for a 10-day extension of creditor protection as lockdowns in Wales, where it has its HQ, are hampering negotiations.
Philip Day, the retail billionaire behind Edinburgh Woollen Mill, could be preparing to buy back the budget fashion chain Peacocks after an administration filing, while exiting the rest of the business.
EWM on Friday confirmed that 50 of its stores will close with the loss of 600 jobs. Most of the closures are focused on Edinburgh Woollen Mill and Peacocks with the job losses largely being shop floor workers.
Edinburgh Woollen Mill said this week that the BGMEA group, which represents Bangladeshi garment manufacturers and exporters, has withdrawn its statement that EWM owes many millions in unpaid bills to its members.
Edinburgh Woollen Mill is considering legal action against the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) over claims it owes millions of pounds in unpaid bills to manufacturers in the country.