High street chains Edinburgh Woollen Mill and Ponden Home have collapsed into administration with 866 jobs axed and hundreds more under threat. A total of 64 stores – 56 Edinburgh Woollen Mill and eight Ponden Home – will stay permanently closed. The remaining 328 EWM and 65 Ponden Home stores will continue to trade, Covid-19 restrictions permitting, whilst a buyer is sought. However, sources close to the process say they believe a buyer is unlikely to be found and a total of 2,571 staff face losing their jobs. Tony Wright, joint administrator and partner at FRP, said: ‘Recent months have proven extremely challenging for many retailers, even those that were trading well before the pandemic, including the teams at Edinburgh Woollen Mill and Ponden Home. A total of 64 stores under the Edinburgh Woollen Mill and Ponden Home fascias – 56 of the former and eight of the latter – will remain permanently closed ‘The administrations will provide some further protection while we continue our search for buyers to secure the long-term futures for both businesses. ‘Regrettably, the impact of Covid-19 on the brands’ core customer base and tighter restrictions on trading mean that the current structure of the businesses… Read full this story
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