Ripon is to lose two long-established shops, with the closures of Edinburgh Woollen Mill and Ponden Home.
Closing down sales signs are in the windows of both shops after Edinburgh Woollen Mill group – which owns both brands – filed a notice of intent to appoint administrators.
Staff at Edinburgh Woollen Mill’s store in Market Place East and Ponden Home in Kirkgate were informed of the situation in a letter on Friday.
The notice of intent is designed to give time for the group, which owns other high street names, including Jaeger and Peacocks, to enable insolvency experts to assess the business and advise on future actions.
The Ponden Home shop in Kirkgate.
While some parts of the giant retail group may be saved, the closing down sale notices were quickly in place at the group’s Ripon stores.
Read more:
The notice of intention lodged in the High Court temporarily halts existing or pending creditor action by creating a 10-day period that protects them from the immediate threat of liquidation.
In a statement, Steve Simpson, chief executive of the Edinburgh Woollen Mill group, said the move would “provide a short breathing space to assess options”.
He added:
“Like every retailer, we have found the past seven months extremely difficult.
“This situation has grown worse in recent weeks as we have had to deal with a series of false rumours about our payments and trading, which have impacted our credit insurance.
“As directors we have a duty to the business, our staff, our customers and our creditors to find the very best solution in this brutal environment.”
