Company which owns Tynwald Mills - calls in the administrators

Fri, 09 Oct 2020

The company which owns Tynwald Mills has filed a notice to appoint administrators.

Edinburgh Woolen Mill has lodged a notice of intention to appoint administrators to look for potential buyers as it attempts to keep the business afloat.

Bosses told staff on Friday morning that national and local coronavirus lockdowns in the UK had hit sales hard.

The company also blamed allegations, which it denies, that it and several rivals failed to pay some Bangladeshi suppliers during lockdown in an attempt to cut the cost of clothes they were unlikely to sell.

For now, EWM Group's stores will continue trading while insolvency specialists spend 10 days preparing an urgent review ahead of further action.

The action will be announced later.

It is unclear how or whether the news will affect Tynwald Mills. EWM purchased Tynwald Mills in Ballig last year.

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