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Greenwoods

From Wikipedia - Reading time: 5 min
This article is about menswear store chain. For other uses, see greenwood (disambiguation).

Greenwoods
IndustryRetail
Founded1860; 164 years ago (1860)
FounderSir Willie Greenwood
Defunct2 January 2019
Headquarters
Bradford
,
England
Number of locations
80 (April 2011) 20 (April 2018)
ProductsMenswear
Revenue£29m (2010)
Decrease £22,000 (2008)[1]
Number of employees
500

Greenwoods was a chain of menswear stores with headquarters in Bradford, England.[2]

History

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The company was founded by (Sir) Willie Greenwood in 1860 as a hatter's shop in Bradford.[3] At its peak in the 1990s there were around 200 branches of the store.[1]

In October 2008, a Chinese retailer expressed an interest in purchasing a 50% stake in the chain. However, whilst negotiations were made, the company was hit badly by the downturn in the Global and British economy in the last quarter of 2008. On 23 January 2009, Greenwoods entered administration and a subsidiary of Harvest Fancy Hong Kong bought 87 of the 92 stores across the UK from the administrators.[2][4] Prior to entering administration, Greenwoods had a turnover of £25.9 million and employed 579 people.[5]

Greenwoods had their headquarters in Albion Mills, Greengates, Bradford but have moved to newly built premises on the Shipley Airedale Road nearer the city centre.

2010-2018

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By April 2011 there were 80 stores trading across the UK. Greenwoods was committed to improving and upgrading the image of its stores with an investment programme, funded by its parent company, Pacific Trend Investment.[6]

Accounting for 20 percent of the company's revenue, the 1860 brand was the second largest formal garment hire company in the UK. Greenwoods also introduced a slim-fit range of suits, shirts, ties and shoes under the 1860 brand.

Greenwoods entered administration on 7 September 2017.[7] In certain cases they have not forwarded any monies to the third party, ACS Clothing, even after receiving payment from customers and they are refusing to refund payments to their customers.

It was announced on 2 January 2019 that the business was in liquidation, a little over 18 months since it previously fell into administration. All store branches and the online store ceased trading on 2 January 2019.[8]

References

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  1. ^ a b "Profits drop is 'irrelevant', insists Greenwoods group", Yorkshire Post, 28 May 2008, retrieved 28 January 2009
  2. ^ a b "556 jobs saved by Greenwoods deal". Bradford Telegraph and Argus. 23 January 2009. Retrieved 28 January 2009.
  3. ^ "About 1860". 1860.com. Archived from the original on 30 January 2009. Retrieved 28 January 2009.
  4. ^ Hall, James (24 January 2009). "Chinese buy Greenwoods". Daily Telegraph. London. Retrieved 28 January 2009.
  5. ^ "556 jobs at Yorkshire clothing store Greenswood Menswear saved by administrators". Yorkshire Evening Post. 26 January 2009. Retrieved 28 January 2009.
  6. ^ "Greenwoods Menswear - Menswear at its finest". Retail Digital. 6 December 2010. Archived from the original on 15 July 2011. Retrieved 6 December 2010.
  7. ^ Cole, Nick (7 September 2017). "Scunthorpe fashion store goes into administration". Scunthorpe Telegraph. ISSN 0307-1235. Retrieved 23 September 2017.
  8. ^ Jahshan, Elias (2 January 2019). "Greenwoods falls into administration 18 months after previous collapse". Retail Gazette. Retrieved 6 January 2019.
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