Edinburgh Woollen Mill (EWM) had recently in a letter said that as per a rationalisation plan, over 50 of its stores will be closed soon.
The retailer has now earmarked the stores in the UK that are to be permanently closed.
Philip Day’s EWM reportedly shut down 2 of its stores late last week. These were in Dingwall in the Scottish Highlands and Penrith in Cumbria.
While the above 2 have been closed forever, those in Oswestry (Shropshire), Andover (Hampshire) and Newbury (Berkshire) are displaying the sign of ‘closing down sale’ on their windows.
Among other stores that have been identified – and soon to be closed – are Peacocks stores in Acomb (North Yorkshire), Ryde and Shanklin on the Isle of Wight and Washington in Tyne and Wear.
However, the worrying part, as reported by Draper, is that several of company’s staff is still not sure whether the stores are going to be permanently shut.
Consequently, there is fear and uncertainty among the employees.
The retailer has, meanwhile, got a 10-day extension to the administration and once the extension period is over, the exact picture will be clear.
While EWM is also in talks with Davidson Kempner – the American hedge fund giant – to secure a rescue deal, Torque Brands has also shown interest in acquiring EWM-owned brands Jaeger and Austin Reed.
We will keep you updated!