High street tycoon Philip Day has put his Peacocks and Edinburgh Woollen Mill (EWM) chains up for sale.
Day has appointed the advisory firm FRP to sound out potential buyers for the two retail chains, which employ about 7,000 people and trade from more than 900 outlets. FRP asked for offers by last Friday. Day triggered the sale process this month after an unsolicited approach for Peacocks, which is more likely to be offloaded than EWM.
Day amassed a £1.14bn fortune by buying up distressed retail brands and integrating them into his empire. Covid has been painful for Day, depriving EWM of the over-60s and foreign tourists on which it depends. Peacocks has reopened fewer than half of its 550 shops.
Separately, Day is also