Fashion Investments and M&A

Date: January 2021
Buyer: Purepay Retail Limited (“Purepay”)
Target: The Edinburgh Woollen Mill and Duvetco Limited (Ponden Home) (in administration)
Business: Knitwear and homeware retailer
Value: Undisclosed
Details: The joint administrators to clothing retailer The Edinburgh Woollen Mill and sister brand Duvetco Limited (Ponden Home) have completed the sale of the businesses to Purepay. Purepay is a subsidiary of secured creditor and parent company Edinburgh Woollen Mill (EWM) Group and is backed by an international investor consortium. The sale has secured approximately 1,453 jobs and 246 stores. Purepay will operate the 246 stores under licence from across both brands and the remaining stores have been permanently closed.