Philip Day (businessman)

Last updated

Philip Day
Born
Philip Edward Day

October 1965 (age 58)
NationalityBritish
OccupationBusinessman
TitleCEO and owner, Edinburgh Woollen Mill
Spouse
Debra Day
​
(m. 1990)​
Children3

Philip Edward Day (born October 1965) is a Dubai-based British billionaire businessman, and the CEO and owner of The Edinburgh Woollen Mill Group, which owns Peacocks, Jaeger, Jane Norman, Austin Reed, and other high-street retailers.

Contents

As of May 2020, his net worth was £1.1 billion, according to the Sunday Times Rich List . [1]

Early life

Philip Edward Day was born in October 1965. [2] He grew up on a council estate in Stockport and while at school he held down a number of part-time jobs, including working at his parents' newsagents shop. [3]

Turning down a place at university, Day started his career at clothing manufacturers Coats Viyella and Wensum before being headhunted to join Aquascutum at the age of 28. [4] He remained at the brand for 5 years, becoming Joint Managing Director. [3]

Career

In 2001, Day left Aquascutum and joined Edinburgh Woollen Mill, where he led a buyout of the company backed by Rutland Fund Management, a private equity firm. In 2002, he acquired the company for £67.5 million with the backing of Bank of Scotland. [5] At the time, the company employed 3,140 people. [5]

In 2008, EWM bought home furnishing company Ponden Mill and soft furnishings company Rosebys. The stores were rebranded as Ponden Home across the UK. [6]

In 2009, Day bought Scottish golfing brand ProQuip for a reported £750,000. [7] In 2011, Day acquired women's fashion retailer Jane Norman, which had fallen into administration. [7]

In 2016, Day bought outfitters Austin Reed and Country Casuals from administration. Day said he planned to open 50 new Austin Reed stores by 2018. [8]

In 2017, Day acquired British fashion brand Jaeger, again from administration. Day said the acquisition was part of EWM's plan to open a new department store. [9]

In July 2019, Day's company, Spectre Holdings, had acquired 93% of the women's fashion chain Bonmarche. [10]

Peacocks

In 2012, Day acquired fashion retailer Peacocks out of administration. Day is reported have put £200 million of his own money on the line for the acquisition. EWM bought 338 of the chain's stores and said that they would open another 50 stores. [11] According to Forbes, the turnaround of Peacocks played a significant role in Day's success. [12]

Days Department Stores

In May 2017, Day announced the Days Department Stores. The first store opened in former BHS premises in Guildhall Square, Carmarthen. According to Drapers, Day plans to open more than 50 of the stores and has plans to open shops in Crawley and Bedford. [13]

The department store stocks products from a number of EWM brands, including Peacocks, Edinburgh Woollen Mill, Ponden Home, Jane Norman, Jaeger, and Austin Reed. [14] [15]

Philanthropy

Day owns a wildlife sanctuary in Scotland which undertakes research into the preservation and reintroduction of endangered Scottish wildlife, including wolves and wildcats. [16] The park has more than 14 species of deer. [17] Day also owns the largest green energy Anaerobic Digester in the UK. [16]

He was the main financial backer of Carlisle United F.C. although he says that he does not like football. He says he supports the team because otherwise it wouldn't exist. Though Day managed to plunge the football club into over £2.1million of debt when Edinburgh Woolen Mill itself entered administration. Edinburgh Woollen Mill was also the main shirt sponsor of the team. [18]

Personal life

Edmond Castle, c. 1840-50. Drawing by Charles Greenwood or Frederick Peake. Edmond Castle, Hayton c. 1840.png
Edmond Castle, c. 1840–50. Drawing by Charles Greenwood or Frederick Peake.

Day has been married to his wife Debra since 1990. He owns Edmond Castle, a Tudor-style house in Brampton, Cumbria, England, [3] [20] built 1824 to 1829, and designed by Sir Robert Smirke. [20] Day is keen on shooting, especially pheasant and duck, and has been a director of Carlisle United, the local football club. [3]

They have two daughters and one son. [21] [3] In 2016, their daughter Lauren Day joined the Edinburgh Woollen Mill Group board as group development director. [22] In 2010, their daughter Kirstie Day won Miss Cumbria; and a leaked email from EWM's head office to its stores ordered staff to vote for her to become Miss England, "I need and expect all stores to register a minimum of 10 votes today and I mean everybody!" [3]

In 2013, Day was fined £450,000, ordered to pay £457,000 in costs, and called "grossly negligent" by the judge, for clearing part of Gelt Woods, near Brampton, and a Site of Special Scientific Interest (SSSI), for a pheasant shoot. [23] Day later pursued a negligence claim against the solicitors who acted for him, on the basis that negligent advice resulted in excessive court costs in the criminal proceedings, that negligence claim was dismissed by the High Court on 3 December 2021. [24]

In February 2014, Day was due in Dumfries Sheriff Court on a charge of driving without due care and attention, after admitting to driving at 83 mph and overtaking unsafely on the A7 between Auchenrivock and Canonbie in February 2012. [25]

As of 2017, Day lives in Dubai, and "spends fewer than 10 days a year in the UK". [26] [27]

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References

  1. ↑ "Rich List 2016". The Sunday Times . No. 37. 24 May 2020.
  2. ↑ "Edinburgh Woollen Mill Limited (The) – Officers (free information from Companies House)". Companies House. Retrieved 9 September 2016.
  3. 1 2 3 4 5 6 Sarah Butler. "Knight in a comfy cardie who rescued Peacocks shows he has style | Business". The Guardian . Retrieved 22 January 2017.
  4. ↑ Shah, Oliver (28 May 2017). "The new king of the high street". The Sunday Times. ISSN   0956-1382 . Retrieved 2 January 2018.
  5. 1 2 "£67.5m Edinburgh Woollen Mill deal 'vote of confidence'". www.yorkshirepost.co.uk. Retrieved 2 January 2018.
  6. ↑ "Corporate History | Ponden Home". Ponden Home. Retrieved 2 January 2018.
  7. 1 2 Butler, Sarah (24 February 2012). "Knight in a comfy cardie who rescued Peacocks shows he has style". The Guardian. ISSN   0261-3077 . Retrieved 2 January 2018.
  8. ↑ McClean, Paul (23 November 2016). "Austin Reed set for return to the high street" . Financial Times . Retrieved 2 January 2018.
  9. ↑ "Days department store readies UK retail roll-out". Drapers. Retrieved 2 January 2018.
  10. ↑ Jahshan, Elias (15 July 2019). "Bonmarche to be delisted after Philip Day's stake grows to 93%". Retail Gazette. Retrieved 6 August 2019.
  11. ↑ Barry, Sion (24 February 2012). "Peacocks new owner Philip Day plans to reopen 50 stores". walesonline. Retrieved 2 January 2018.
  12. ↑ "Philip Day". Forbes. Retrieved 2 January 2018.
  13. ↑ "Exclusive: Days department store to launch in Crawley". Drapers. Retrieved 2 January 2018.
  14. ↑ Soult, Graham. "Days department store in the ex-BHS in Carmarthen: what we know so far - Soult's Retail View". Soultsretailview.co.uk. Retrieved 31 May 2017.
  15. ↑ Tim Wallace (28 May 2017). "New department store Days opens in bid to defy trend of closures". The Telegraph. Telegraph.co.uk. Retrieved 31 May 2017.
  16. 1 2 "Philip Day". themarque.com. Retrieved 16 November 2017.
  17. ↑ "The Scottish Deer Center". tsdc.com. Retrieved 16 November 2017.
  18. ↑ "Philip Day: If I didn't sponsor Carlisle Utd, club might not exist". newsandstar.co.uk. Retrieved 16 November 2017.
  19. ↑ Edmond Castle, the Seat of Thomas Henry Graham. Rostron & Edwards. Retrieved 22 January 2017.
  20. 1 2 "Edmond Castle – Visit Cumbria". Visitcumbria.com. Retrieved 22 January 2017.
  21. ↑ "Rich List 2016". The Sunday Times . No. 37. 24 April 2016.
  22. ↑ "Philip Day's daughter joins Edinburgh Woollen Mill Group board". Drapersonline.com. 13 July 2016. Retrieved 22 January 2017.
  23. ↑ "Edinburgh Woollen Mill's Phillip Day loses woodland damage fine appeal – BBC News". BBC News. 19 December 2014. Retrieved 22 January 2017.
  24. ↑ "Day v Womble Bond Dickinson (UK) LLP [2021] EWHC 3236 (QB)" . Retrieved 9 December 2021.
  25. ↑ "Tycoon in Dubai and misses court (From HeraldScotland)". Heraldscotland.com. 9 February 2012. Retrieved 31 May 2017.
  26. ↑ "Philip Day confirms Jaeger buy, opens first Days department store - News : Retail (#832507)". Uk.fashionnetwork.com. Retrieved 31 May 2017.
  27. ↑ Sarah Butler (1 January 1970). "Edinburgh Woollen Mill acquires Jaeger brand in plan for new chain | Business". The Guardian. Retrieved 31 May 2017.
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