Torque Brands Considers Acquiring Jaeger as Edinburgh Woollen Mill Group Faces Collapse
- TM Lewin owner considering bid for Jaeger
- Torque Brands expresses interest in acquiring Jaeger
- Jaeger part of Edinburgh Woollen Mill Group
- Group facing financial difficulties due to Covid-19 impact and reduced credit insurance
The owner of menswear retailer TM Lewin, Torque Brands, is reportedly considering a bid for Phillip Day’s retail brand Jaeger. The investment vehicle, formed by businessman James Cox, is one of several businesses expressing interest in acquiring the brand. Jaeger is part of the wider Edinburgh Woollen Mill Group which includes Peacocks and Edinburgh Woollen Mill chains. Torque acquired TM Lewin earlier this year through a solvent deal and transitioned it to an online-only business. The news comes as Day’s EWM Group faces potential collapse after appointing FRP Advisory for a review of the business due to harsh trading conditions caused by Covid-19 pandemic and reduced credit insurance. EWM filed a notice to appoint administrators with the High Court on October 9, aiming to provide ‘necessary breathing space’ while assessing options. The group has received expressions of interest for various parts of the company, which are being evaluated along with other options. Sky News reports that Day is also expected to apply for an extension to its intention notice this week.
Factuality Level: 8
Factuality Justification: The article provides accurate and objective information about the potential acquisition of Jaeger by Torque Brands, the current situation of EWM Group, and the impact of Covid-19 on their business. It also mentions the appointment of administrators and the possible involvement of US hedge fund Davidson Kempner in retaining control of Peacocks.
Noise Level: 3
Noise Justification: The article provides relevant information about a potential acquisition of Jaeger by Torque Brands and the financial struggles of EWM Group. However, it lacks in-depth analysis or exploration of long-term trends or possibilities, accountability, scientific rigor, intellectual honesty, staying on topic, evidence, data, examples, and actionable insights.
Financial Relevance: Yes
Financial Markets Impacted: Edinburgh Woollen Mill Group and related retail brands (Jaeger, Peacocks, Edinburgh Woollen Mill)
Financial Rating Justification: The article discusses the potential acquisition of Jaeger by Torque Brands and the financial difficulties faced by the Edinburgh Woollen Mill Group due to the Covid-19 pandemic, which impacts the retail industry and related companies.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the text.
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