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Jaeger and Peacocks owner Edinburgh Woollen Mill will close 50 stores and axe 600 jobs 

Jaeger and Peacocks owner Edinburgh Woollen Mill has announced it will close 50 stores in the latest blow to the high street during the coronavirus pandemic.

Around 600 jobs will be lost across the country but so far no details have been given of which outlets will be closed.

Last week the company lodged a notice to appoint administrators, putting 24,000 jobs at risk.

It came amid allegations the company cancelled orders worth millions of pounds with clothing factories in Bangladesh at the start of the crisis.

Jaeger and Peacocks (pictured in London) owner Edinburgh Woollen Mill has announced it will close 50 stores in the latest blow to the high street during the coronavirus pandemic

Jaeger and Peacocks (pictured in London) owner Edinburgh Woollen Mill has announced it will close 50 stores in the latest blow to the high street during the coronavirus pandemic

Jaeger is part of the Edinburgh Woollen Mill empire and is now under threat of closure

Jaeger is part of the Edinburgh Woollen Mill empire and is now under threat of closure

Workers claimed Edinburgh Woollen Mill demanded heavy discounts, which led to workers being terminated.

Bosses wrote to staff warning them that the national and local lockdowns had hit sales very heavily.

EWM chief executive Steve Simpson said: ‘Like every retailer, we have found the past seven months extremely difficult.

‘This situation has grown worse in recent weeks as we have had to deal with a series of false rumours about our payments and trading which have impacted our credit insurance.

The Edinburgh Woollen Mill Group was first founded in 1946 by Drew Stevenson as the Langholm Dyeing and Finishing Company and chiefly dyed yarn

The Edinburgh Woollen Mill Group was first founded in 1946 by Drew Stevenson as the Langholm Dyeing and Finishing Company and chiefly dyed yarn

‘Traditionally, EWM has always traded with strong cash reserves and a conservative balance sheet, but these stories, the reduction in credit insurance, against the backdrop of the lockdown and now this second wave of Covid-19, and all the local lockdowns, have made normal trading impossible.

‘As directors we have a duty to the business, our staff, our customers and our creditors to find the very best solution in this brutal environment.

‘So we have applied to court today for a short breathing space to assess our options before moving to appoint administrators.

‘Through this process I hope and believe we will be able to secure the best future for our businesses, but there will inevitably be significant cuts and closures as we work our way through this.

Edinburgh Woollen Mill is owned by businessman Philip Day, who has a fortune of £1.05billion

Edinburgh Woollen Mill is owned by businessman Philip Day, who has a fortune of £1.05billion

‘I would like to thank all our staff for their amazing efforts during this time and also our customers who have remained so loyal and committed to our brands.’

An FRP spokesman said: ‘Our team is working with the directors of a number of the Edinburgh Woollen Mill Group subsidiaries to explore all options for the future of its retail brands Edinburgh Woollen Mill, Jaeger, Ponden Home, and Peacocks.’

The Edinburgh Woollen Mill Group, based in Langholm, Scotland, is owned by high street billionaire Philip Day, who has a fortune of £1.05billion and rivalled Mike Ashley in his acquisition of Jack Wills last year.   

Around 600 jobs will be lost across the country but so far no details have been given of which outlets will be closed

Around 600 jobs will be lost across the country but so far no details have been given of which outlets will be closed

It was first founded in 1946 by Drew Stevenson as the Langholm Dyeing and Finishing Company and chiefly dyed yarn.

By 1970, when it opened its first shop Edinburgh, then two years later opened another across the border in Carlisle.

It was taken over by a management buy-in led by Philip Day and is now an independent privately-owned business 100% held by his family. 

It acquired the Jaeger brand in 2017 and Peacocks came earlier in 2012 when it was taken in after going into administration.

How more than 211,000 job losses have been revealed by major UK firms since lockdown began 

Some 211,381 job losses have been announced by major British employers since the start of the coronavirus lockdown in March as follows:  

October 17 – Edinburgh Woollen Mill – 600 

October 16 – Pret A Manger – 400

October 14 – Gourmet Burger Kitchen – 362

October 7 – Greene King – 800 

October 6 – Virgin Money – 400 

October 6 – Vp – 150 

October 5 – Cineworld – 5,500 (many cuts likely to be temporary) 

September 30 – TSB – 900 

September 30 – Shell – 9,000 worldwide 

September 29 – Ferguson – 1,200

September 22 – Wetherspoon – 400 to 450

September 22 – Whitbread – 6,000

September 18 – Investec – 210

September 15 – Waitrose – 124

September 14 – London City Airport – 239

September 9 – Lloyds Bank – 865

September 9 – Pizza Hut – 450

September 4 – Virgin Atlantic – 1,150

September 3 – Costa – 1,650

August 27 – Pret a Manger – 2,800 (includes 1,000 announced on July 6)

August 26 – Gatwick Airport – 600

August 25 – Co-operative Bank – 350

August 20 – Alexander Dennis – 650

August 18 – Bombardier – 95

August 18 – Marks & Spencer – 7,000

August 14 – Yo! Sushi – 250

August 14 – River Island – 350

August 12 – NatWest – 550

August 11 – InterContinental Hotels – 650 worldwide

August 11 – Debenhams – 2,500

August 7 – Evening Standard – 115

August 6 – Travelex – 1,300

August 6 – Wetherspoons – 110 to 130

August 5 – M&Co – 380

August 5 – Arsenal FC – 55

August 5 – WH Smith – 1,500

August 4 – Dixons Carphone – 800

August 4 – Pizza Express – 1,100 at risk

August 3 – Hays Travel – up to 878

August 3 – DW Sports – 1,700 at risk

July 31 – Byron – 651

July 30 – Pendragon – 1,800

July 29 – Waterstones – unknown number of head office roles

July 28 – Selfridges – 450

July 27 – Oak Furnitureland – 163 at risk

July 23 – Dyson – 600 in UK, 300 overseas

July 22 – Mears – fewer than 200

July 20 – Marks & Spencer – 950 at risk

July 17 – Azzurri Group (owns Zizzi and Ask Italian) – up to 1,200

July 16 – Genting – 1,642 at risk

July 16 – Burberry – 150 in UK, 350 overseas

July 15 – Banks Mining – 250 at risk

July 15 – Buzz Bingo – 573 at risk

July 14 – Vertu – 345 July 14 – DFS – up to 200 at risk

July 9 – General Electric – 369

July 9 – Eurostar – unknown number

July 9 – Boots – 4,000

July 9 – John Lewis – 1,300 at risk

July 9 – Burger King – 1,600 at risk

July 7 – Reach (owns Daily Mirror and Daily Express newspapers) – 550

July 6 – Pret a Manger – 1,000 at risk

July 2 – Casual Dining Group (owns Bella Italia and Cafe Rouge) – 1,909

July 1 – SSP (owns Upper Crust) – 5,000 at risk

July 1 – Arcadia (owns TopShop) – 500

July 1 – Harrods – 700

July 1 – Virgin Money – 300

June 30 – Airbus – 1,700

June 30 – TM Lewin – 600

June 30 – Smiths Group – ‘some job losses’

June 25 – Royal Mail – 2,000

June 24 – Jet2 – 102

June 24 – Swissport – 4,556

June 24 – Crest Nicholson – 130

June 23 – Shoe Zone – unknown number of jobs in head office

June 19 – Aer Lingus – 500

June 17 – HSBC – unknown number of jobs in UK, 35,000 worldwide

June 15 – Jaguar Land Rover – 1,100

June 15 – Travis Perkins – 2,500

June 12 – Le Pain Quotidien – 200

June 11 – Heathrow – at least 500

June 11 – Bombardier – 600

June 11 – Johnson Matthey – 2,500

June 11 – Centrica – 5,000

June 10 – Quiz – 93

June 10 – The Restaurant Group (owns Frankie and Benny’s) – 3,000

June 10 – Monsoon Accessorise – 545

June 10 – Everest Windows – 188

June 8 – BP – 10,000 worldwide

June 8 – Mulberry – 375

June 5 – Victoria’s Secret – 800 at risk

June 5 – Bentley – 1,000

June 4 – Aston Martin – 500

June 4 – Lookers – 1,500

May 29 – Belfast International Airport – 45

May 28 – Debenhams (in second announcement) – ‘hundreds’ of jobs

May 28 – EasyJet – 4,500 worldwide

May 26 – McLaren – 1,200

May 22 – Carluccio’s – 1,000

May 21 – Clarks – 900

May 20 – Rolls-Royce – 9,000

May 20 – Bovis Homes – unknown number

May 19 – Ovo Energy – 2,600

May 19 – Antler – 164

May 15 – JCB – 950 at risk

May 13 – Tui – 8,000 worldwide

May 12 – Carnival UK (owns P&O Cruises and Cunard) – 450

May 11 – P&O Ferries – 1,100 worldwide

May 5 – Virgin Atlantic – 3,150

May 1 – Ryanair – 3,000 worldwide

April 30 – Oasis Warehouse – 1,800

April 29 – WPP – unknown number

April 28 – British Airways – 12,000

April 23 – Safran Seats – 400

April 23 – Meggitt – 1,800 worldwide

April 21 – Cath Kidston – 900

April 17 – Debenhams – 422

March 31 – Laura Ashley – 268

March 30 – BrightHouse – 2,400 at risk

March 27 – Chiquito – 1,500 at risk

 

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