Those familiar with my blog will remember my relatively recent blog entitled Blacks and La Senza: Agression v Seduction. Today we are met with the news that Peacocks has finally been sold out of administratio to Edinburgh Woollen Mill. This is good news, especially for the 6,000 people whose jobs have been saved and the 338 landlords whose stores will remain open. It is less positive for the 3100 people who will lose their jobs and the 224 stores that have ceased trading with immediate effect.But do not despair completely for it appears that Edinburgh Woollen Mill has adopted the "seductive" approach to its acquisition vis-a-vis landlords. Philip Day, chairman and chief executive of the Edinburgh Woollen Mill Group, based in Langholm in Scotland, is quoted as saying that he hoped there would be scope to save more jobs and stores from those being forced to close due to performance issues and overhead pressures.
This is a clear statement of intent that once they have had the chance to review all the numbers they will identify further sites they wish to re-open and dangle in front of landlords the carrot of some rent.
Does this mean that seductive approach is now preferred over the aggressive approach or is this just a hangover from Valentine's day? No doubt there will be a few more insolvencies in 2012 that will reveal more.
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