Edinburgh Woollen Mill Owner Eyes House of Fraser Locations

  • Philip Day in talks with landlord groups for potential takeover of House of Fraser stores
  • Edinburgh Woollen Mill owner interested in running stores as Days Department Stores
  • Rents and leases up for negotiation due to administration
  • Sports Direct bought House of Fraser for £90m, appointed CBRE for negotiations

Philip Day, the owner of Edinburgh Woollen Mill, is reportedly in talks with landlord groups regarding a takeover of several House of Fraser stores. The company aims to run them as Days Department Stores, according to Drapers. Rents and leases on House of Fraser premises are currently up for negotiation due to the company’s administration. Sports Direct bought the retailer for £90m at the start of the week and appointed property agency CBRE to begin negotiations with landlords. It is also thought that the Edinburgh Woolen Mill Group is prepared to pay higher rents than House of Fraser currently pays and is reportedly willing to acquire stores directly from landlords.

Factuality Level: 8
Factuality Justification: The article provides relevant information about Philip Day’s talks with landlord groups for a potential takeover of House of Fraser stores and mentions the involvement of Sports Direct in the process. It also states that Edinburgh Woollen Mill Group is willing to pay higher rents than House of Fraser currently pays. However, it lacks some details such as specific store locations or the exact number of stores involved.
Noise Level: 3
Noise Justification: The article provides relevant information about the potential takeover of House of Fraser stores by Edinburgh Woollen Mill and the ongoing negotiations with landlord groups. It also mentions Sports Direct’s involvement in the process. However, it lacks a detailed analysis or exploration of long-term trends or consequences, as well as evidence to support its claims.
Financial Relevance: Yes
Financial Markets Impacted: House of Fraser, Edinburgh Woollen Mill Group, Sports Direct
Financial Rating Justification: The article discusses the potential takeover of House of Fraser stores by Edinburgh Woollen Mill Group and negotiations with landlords, which impacts the financial situation of these companies and could affect their stock prices and business operations.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There are no extreme events mentioned in the article.

Reported publicly: www.retailsector.co.uk