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Tycoon eyes stores

Philip Day thought to be after M&S and HoF outlets set for closure

 

EDINBURGH Woollen Mill chief executive Philip Day is reportedly hoping to place a formal bid on a number of Marks & Spencer and House Of Fraser stores which are being closed.

The Sunday Telegraph reported the retail tycoon is aiming to turn the properties into branches of his Days department store chain which he introduced in 2017.
Philip is reportedly in discussions with M&S to buy 10 of their sites, as they are halfway through a radical turnaround scheme to slash 100 stores, reducing their High Street footprint.
He is also said to be eyeing some HoF stores, from the chain saved last year by Sports Direct tycoon Mike Ashley, where leases expire this autumn.
A spokesperson for Edinburgh Wollen Mill Group, Day’s retail company – he also owns Austin Reed, Jaeger, Jane Norman and Peacocks – declined to comment to the newspaper.



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