Edinburgh Woollen Mill Group owes creditor £167m
The collapse of Philip Day’s Edinburgh Woollen Mill Group empire has left creditors £167m out of pocket, it has been reported.
According to The Times, administrators’ reports show the group still owes £167m to unsecured creditors, including landlords.
The retail group, which was badly dented during the pandemic, went into administration in November 2020, with reported debts of £192m.
But the Carlisle-based retailer behind brands such as Jane Norman and Peacocks resumed trading after a rescue package was arranged in January 2021.
The company, originally a wool yarn dyeing business, the Langholm Dyeing and Finishing Company, was founded in 1946 by Drew Stevenson. Its first retail store opened in Edinburgh in 1970, with its first English branch following in Carlisle two years later.