Edinburgh Woollen Mill to seek extended protection from creditors
Edinburgh Woollen Mill is likely to seek a 10-day extension of protection from creditors as the owners seek to save as much of the business as they can.
The impact of the new lockdown in Wales, where the group’s Peacocks business is headquartered and there are two distribution centres, has added complexity to attempts to salvage the business.
That, combined with realistic prospects of a deal as tycoon Philip Day continues talks with potential backers, is expected to lead to a request for more time.
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