Philip Day eyes acquisition of Coast, Oasis and Warehouse

Retail tycoon Philip Day is reportedly looking at acquiring Coast, Oasis and Warehouse from the administrators of current owner Kaupthing.

Kaupthing, the Icelandic bank, originally put the three brands up for sale in November 2016 for a price tag of £100m.

There has been scant interest from the market however and it is now thought that the brands will be sold for around half the original sale price.

Day has a history of buying up brands at bargain prices and has now, according to the Sunday Times, added the trio to his wish list.

The Edinburgh Woollen Mill owner acquired Jaeger from administrators earlier this year and purchased fellow heritage brand Austin Reed from administration last year, fitting both into his newly opened outfit Days.

The department store opened the doors of its branch in Carmarthen last month. It houses all of the group’s brands, which include Austin Reed, Country Casuals, Edinburgh Woollen Mill, Jaeger, Jane Norman, Peacocks and homewares brand Ponden Mill.

Day is expected to open four more stores this year while another 50 are reportedly on the cards.

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