Revealed: York firm owed £175,000 after collapse of Edinburgh Woollen Mill
When the Edinburgh Woollen Mill collapsed into administration, it left debts of around £192 million, it has been revealed.
And several of those creditors are firms in North Yorkshire.
The news comes after a rescue deal was announced which could save most of the Edinburgh Woollen Mill shops.
The local company owed the most by the company is Pavers Ltd, the York-based shoe retailer.
It was owed more than £175,000 when EWM stopped trading.
A spokesman for Pavers told YorkMix: “As this is an ongoing business situation we can’t really comment at this point.”
Here are the firms creditors in North Yorkshire:
| Company | Address | Money owed |
|---|---|---|
| City Electrical Factors | Audax Close, Clifton Moor, York | £536.08 |
| Graphics Direct Ltd | Tockwith | £19.38 |
| Brenda William Fawcett and Helen Joyce | Thirsk Garden Centre | £6,102.90 |
| John Farrah Harrogate Toffee | Starbeck, Harrogate | £3,633.52 |
| John K King & Co Ltd | Killinghall, Harrogate | £5,820.42 |
| Langlands Nurseries Ltd | Shiptonthorpe, York | £1,7261.20 |
| Pavers Ltd | Stockton Lane, York | £175,510.75 |
| Shipton Estates Ltd | Kirby Grindalythe, Malton | £33,250.00 |
| Siba ATM | Ripon | £211.09 |
| The Coat Outlet | Kerver Lane, Dunnington | £2,111.00 |
Most shops saved
Most Edinburgh Woollen Mills will start trading again after a rescue deal was agreed yesterday (Monday).
The owner of Edinburgh Woollen Mill has secured a deal to rescue the brand and its sister business Ponden Homes from disappearing for good after it crashed into administration last year.
Administrators at FRP confirmed 246 stores will be saved by Purepay Retail, which is controlled by former owner Philip Day. The deal secures the future for 1,453 workers.
However, 85 Edinburgh Woollen Mill and 34 Ponden Home stores have been permanently closed as part of the agreement.
It is not known whether the York store, on Shambles, is among those rescued.
But it has a better chance than most – as the building is owned by Equorium Property, part of the EWM Group which also owns Edinburgh Woollen Mills.
The deal sees EWM continue to be controlled by Mr Day, with new investors repaying him the money owed as a secured creditor.
Unsecured creditors – including landlords and suppliers like Pavers – are unlikely to get back any money owed.
Fashion retailer Peacocks, which had a store on Front Street, Acomb, is not part of the rescue deal and remains in administration.
In a separate deal, Marks & Spencer signed a deal to take over Jaeger, another part of Mr Day’s business empire which also entered administration last year.
However, M&S did not buy the Jaeger stores, so no jobs are expected to be saved. Jaeger traded on St Helen’s Square until last year.