By Hugh Radojev2019-08-05T13:52:00
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.
Please sign in now if you have a subscription
Retail-Week.com provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.
Register today for a taste of our high-quality intelligence and enjoy:
Discover Retail Week register now
Please note, if you have recently purchased a subscription, it may take a few minutes before your account is updated.