Edinburgh Woollen Mill Group chief executive officer Philip Day has started the procedures to potentially sell UK fashion chains Peacocks and Edinburgh Woollen Mill. Day has reportedly appointed advisory firm FRP to seek the business value of the two retail chains. A few weeks ago, he also began exploring possible sale options for brands Jaeger, Austin Reed and Jacques Vert.

The adviser will offer market intelligence on the business value of the store chains.

Peacocks operates from 550 stores and concessions and has 11,000 team members.

Early this month, the group reported receiving interest for some of its brands from international strategic investors, including parties based in China, according to British media reports.

One top UK financial daily, however, reported that Day is unlikely to sell the Edinburgh Woollen Mill chain and that the retailer has not received any interest.
Peacocks acquired tens of millions of pounds in debt after being unable to pay landlords and suppliers during the pandemic-induced lockdown in the United Kingdom.

Fibre2Fashion News Desk (DS)

Disclaimer - All News/Articles items are subject to copyright and no article either in full or part may be reproduced in any form without permission from Fibre2Fashion Pvt. Ltd.