East Sussex high street stores could be forced to close

As reported in the national press today (Friday, October 9), the firm, which also owns Peacocks and Jaeger, intends to appoint administrators to look for potential buyers.

Around 24,000 jobs are now at risk across the UK.

Edinburgh Woollen Mill has branches in Bexhill, Rye, Pevensey, and Eastbourne.

There are Peacocks stores in Brighton, Portslade, Peacehaven and Uckfield.

There is also a Jaeger branch in Brighton.

The firm said the coronavirus (Covid-19) lockdown and more recent local lockdown measures had adversely affected its business.

All staff received written notification of the move this morning, as reported in the national press.

The group said it has filed a notice of intention to appoint administrators with the High Court today.

A spokesman said: “This gives the business necessary breathing space while it assesses the various options available.

“In recent weeks EWM has received a number of expressions of interest for various parts of the group and these are being assessed along with all other options.

“At the end of this process the group will appoint FRP Advisory as administrators who will carry out the necessary restructuring of the wider business.”

Steve Simpson, chief executive of EWM 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.

“Traditionally, EWM has always traded with strong cash reserves and a conservative balance sheet but these stories and the reduction in credit insurance – against the backdrop of the initial lockdown, current local lockdowns, and the second wave of Covid-19 reducing footfall 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.

“We have applied to court today for a short breathing space to assess our options before moving to appoint administrators.