Edinburgh Woollen Mill (EWM) has been a well-known high street retailer in the UK for more than a century. However, the company has been facing financial difficulties in recent years, leaving many wondering if it has ceased trading. In this article, we will look at the troubled history of EWM and explore the potential implications of its current struggles.
Edinburgh Woollen Mill’s Troubled History
EWM has been a staple in the UK’s high street retail landscape since the early 20th century. It has grown to become one of the UK’s biggest clothing retailers, with hundreds of stores across the country. However, the company has been facing financial difficulties in recent years. In 2019, EWM underwent a restructuring process, which saw the closure of over 70 stores and the loss of over 1,000 jobs. The company also entered a Company Voluntary Arrangement (CVA), a legal procedure which allowed it to close stores and renegotiate rents with landlords.
Despite the restructuring, EWM continued to struggle financially and in 2020 the company was placed into administration. The administrators, Deloitte, have been working to find a buyer for the business, but so far no buyer has been found. This has led to speculation that EWM has ceased trading.
The End of an Era?
The potential closure of EWM would be a significant blow to the UK’s high street retail landscape. The company has been a fixture on the high street for more than a century and its closure would be a major loss for both customers and employees.
The potential closure of EWM is also indicative of the wider struggles of the UK’s high street retail sector. The sector has been hit hard by the COVID-19 pandemic, with many retailers having to close their doors and thousands of jobs being lost. The potential closure of EWM could be seen as a sign of further trouble ahead for the high street.
The future of Edinburgh Woollen Mill remains uncertain. The company has been struggling financially for some time and has yet to find a buyer. This has led to speculation that it has ceased trading. Whatever the outcome, the potential closure of EWM would be a significant loss for the UK’s high street retail sector and serve as a reminder of the struggles that the sector is facing.