It shouldn’t come as a shock or a surprise to anyone, that some of the country’s best known and most loved brands are struggling for survival in the ongoing coronavirus pandemic.
It certainly doesn’t surprise us at #TeamCES, but it does worry us, and the news that 21,000 more jobs are at risk is even more troubling.
That’s how many jobs are on the line at the Edinburgh Woolen Mill, and in the various brands that it encapsulates, including Peacocks.
Typically aimed at an older customer base, Edinburgh Woolen Mill owned stores have been amongst the worst hit on the High Street, with a large proportion of their customer base staying home or even shielding for as long six or seven months.
It might be something of a sweeping generalisation, but it is also likely to be the case that they are less successful and active in the online arena, again due to their target age range.
Whatever the average age of an EMW customer though, the administrators have been called in to try and save what they can, but few people are holding out much hope for a revival.
Retail experts seem to think that the writing is already on the wall for this company, and that it is just a matter of time before we see store closures and mass redundancies.
Again, this is not an isolated example.
The billionaire owner of EMW, Philip Day, has just over 1,000 stores for the company’s brands, and unless they can find a way to modernise, diversify, or simply hang on in there, the ball of wool really is about to run out for the company and its employees.
So many industries and businesses are struggling right now, and with the Treasury admitting that they simply can’t save every single job, we expect more and more people to find themselves staring down the barrel of unemployment in the run up to Christmas.
Our advice from a #TeamCES point of view?
Look out for those around you, and remember to shop local, whilst you still can.