Day in late bid to avoid Jack Wills administration
Edinburgh Woollen Mill owner Philip Day is reportedly trying to keep Jack Wills out of administration as he seeks to pip Mike Ashley to a deal for the struggling retailer.
With a deal for the embattled retailer expected to be completed at some point today, Day has put a bid in for Jack Wills seeking to avoid it falling into a pre-pack administration, PA has reported.
Day is locked in a struggle with Sports Direct tycoon Mike Ashley, who over the weekend was reportedly in pole position to snap up the struggling Jack Wills brand.
However, any deal involving Ashley would involve allowing the retailer sliding into a pre-pack administration – an insolvency process that would allow for the brand to be sold on debt-free.
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