Frasers Group warns Edinburgh Woollen Mill administrators against “unfair” deal

// Frasers Group warns Peacocks, Jaeger and Edinburgh Woollen Mill administrators they should avoid giving a preferential deal to former owners of the group
// Peacocks and Jaeger entered administration this week, putting over 4500 jobs at risk
// EWM went into administration earlier this month alongside Ponden Home, putting 2800 jobs at risk
// The brands are owned by Edinburgh Woollen Mill Group

Mike Ashley’s Frasers Group has reportedly warned administrators to Peacocks, Jaeger and Edinburgh Woollen Mill (EWM), FRP Advisory, that they should refrain from giving a preferential deal to the former owners of the group.

Peacocks and Jaeger – owned by Edinburgh Woollen Mill Group – entered administration this week, putting over 4500 jobs at risk, while EWM went into administration earlier this month alongside the Ponden Home chain, putting 2800 jobs at risk.

The retail group is owned by Dubai-based businessman Philip Day.


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Frasers Group said its attempts to discuss acquiring the retailers had been rebuffed.

The empire – which owns House of Fraser and Sports Direct – said it has followed up with interest daily via email and calls asking for updates and information but has been “met with delays and absolute refusals”, Financial Times reported.

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“We understand, through FRP, that EWM’s management are flatly refusing to provide details,” Frasers Group said.

The group said it had instructed lawyers to “remind” the administrator FRP of “their obligations to run a fair and transparent process”.

Meanwhile, FRP said it was “well aware of our duties as independent officers of the court, take them extremely seriously and are committed to running fair, transparent and open processes”.

Day indicated in the past that he had dropped plans to buy back any of the brands himself, but it is still possible that individual management teams may do so.

Frasers said it believed that by expressing its objections to the way the process had been dealt with, it had delayed an “inevitable” sale to acquirers.

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