Philip Day (businessman)
Philip Edward Day | |
|---|---|
| Born | Error: Need valid birth date: year, month, day Stockport, England |
| Occupation(s) | Entrepreneur, business executive |
| Years active | 1980s–present |
| Known for | CEO and proprietor of Peacocks and The Edinburgh Woollen Mill |
Philip Edward Day (born October 1965) is a British billionaire entrepreneur residing in Dubai. He serves as the CEO and proprietor of Peacocks and The Edinburgh Woollen Mill, which also owns brands such as Bonmarché and Ponden Home.
As reported in the Sunday Times Rich List in May 2020, his estimated net worth stood at £1.1 billion.
Early life
Born in October 1965, Philip Edward Day was raised on a council estate in Stockport. During his school years, he worked part-time at his parents’ newsagent shop.
Opting not to pursue higher education, Day began his professional journey with clothing manufacturers Coats Viyella and Wensum. At age 28, he joined Aquascutum, where he remained for five years and advanced to the role of Joint Managing Director.
Career
Day departed from Aquascutum in 2001 to join Edinburgh Woollen Mill, orchestrating a buyout supported by Rutland Fund Management. The following year, with financial backing from Bank of Scotland, he acquired the company for £67.5 million; at that time, it employed 3,140 staff members.
In 2008, Edinburgh Woollen Mill broadened its portfolio by acquiring home furnishing businesses Ponden Mill and Rosebys, subsequently rebranding these outlets under the Ponden Home name across the country.
In 2009, Day bought Scottish golf apparel brand ProQuip for around £750,000. Two years later, in 2011, he acquired women's fashion retailer Jane Norman following its administration process.
Continuing his expansion strategy, Day acquired retailers Austin Reed and Country Casuals out of administration in 2016, with intentions to launch 50 new Austin Reed locations by 2018.
The acquisition of British fashion label Jaeger occurred in 2017, also from administration, as part of Edinburgh Woollen Mill’s plan to introduce a new department store concept.
By July 2019, Day’s company Spectre Holdings held a 93% stake in women’s fashion chain Bonmarche, demonstrating further consolidation within the retail industry.
Peacocks
In 2012, Day purchased the fashion retailer Peacocks following its entry into administration, committing £200 million of personal capital. Edinburgh Woollen Mill acquired 338 stores and intended to open an additional 50 outlets. According to Forbes, Peacocks’ successful revival played a significant role in Day’s business expansion.
Days Department Store in Carmarthen
May 2017 saw the opening of Days Department Store by Day in the former BHS premises located at Guildhall Square, Carmarthen. This store houses brands including Peacocks, The Edinburgh Woollen Mill, Ponden Home, Jane Norman, and Austin Reed.
By January 2018, Day targeted launching over 50 stores with plans for locations such as Crawley and Bedford. However, only the Carmarthen location operated under the Days brand; the Bedford site was divided among Peacocks, The Edinburgh Woollen Mill, and Ponden Home stores, while Crawley became solely a Peacocks outlet.
In November 2020, an announcement was made regarding the closure of the department store but was subsequently reversed after The Edinburgh Woollen Mill underwent a rescue operation in January 2021.
Philanthropy
Day owns a wildlife sanctuary in Scotland dedicated to conserving and reintroducing endangered native species like wolves and wildcats. The park is home to more than fourteen different deer species. Additionally, he possesses the UK’s largest green energy Anaerobic Digester facility.
Although not personally a football enthusiast, he was the main financial supporter of Carlisle United F.C., helping to prevent the club’s closure. Nevertheless, when Edinburgh Woollen Mill entered administration, the club faced debts exceeding £2.1 million; EWM was also Carlisle United’s primary shirt sponsor.
Personal life
Since 1990, Day has been married to Debra and is the proprietor of Edmond Castle, a Tudor-style residence located in Brampton, Cumbria. This estate, designed by Sir Robert Smirke, was constructed between 1824 and 1829. A passionate shooter, Day has also held a position as a director at Carlisle United.
The couple has three children: two daughters and a son. In 2016, their daughter Lauren Day was appointed as group development director on the board of the Edinburgh Woollen Mill Group. Another daughter, Kirstie Day, earned the title of Miss Cumbria in 2010; notably, EWM’s headquarters controversially urged employees to support her candidacy in the Miss England competition.
In 2013, Day was penalized with a £450,000 fine and required to cover £457,000 in legal costs after being deemed "grossly negligent" for clearing part of Gelt Woods, a designated Site of Special Scientific Interest (SSSI), to facilitate a pheasant shoot. His later negligence lawsuit against his solicitors was rejected by the High Court in 2021.
In February 2014, Day appeared in court charged with driving without due care following admissions of speeding and dangerous overtaking on the A7 road during 2012.
By 2017, Day had relocated to Dubai and reportedly spends fewer than ten days per year in the United Kingdom.