The Edinburgh Woollen Mill has been bought out of administration by Purepay Retail, a secured creditor of the business. Purepay has reportedly acquired all of The Edinburgh Woollen Mill Limited and Pondem Home's remaining stock, as well as the head office site and distribution centre in Carlisle. The deal will save 1,453 jobs and 246 stores across both brands.

The BBC reported that the reaming 85 The Edinburgh Woollen Mill stores and 34 Ponden Home stores have been permanently closed. The staff at these stores, comprising 358 The Edinburgh Woollen Mill and 127 Ponden Home employees, have been made redundant. 

Purepay Retail has also acquired Bonmarché, including its remaining stock, head office site and distribution centre in Wakefield. It will operate 72 stores under licence and save over 500 jobs.

The Edinburgh Woollen Mill fell into administration last November as the business, controlled by Dubai-based CEO Philip Day, was badly impacted by the Coronavirus pandemic.