Greenwoods
Encyclopedia
Greenwoods is a chain of menswear stores based in Bradford
, England
.
The company was founded by Sir Willie Greenwood
in 1860 as a hatter
s shop. At its peak in the 1990s there were around 200 branches of the store.
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.
Prior to entering administration, Greenwoods had a turnover
of £25.9m and employed 579 people.
Accounting for 20 percent of the company’s revenue, the 1860 brand has raised the profile & it is acknowledged as the second largest formal garment hirer in the UK. Greenwoods has recently introduced a slim-fit range of suits, shirts, ties and shoes under the 1860 brand, which has proved to be hugely successful with the younger market.
There are currently 80 stores across the UK. Greenwoods are continuing to improve and upgrade the image of its stores with significant investment programme which is funded by their parent company, Pacific Trend Investment.
Bradford
Bradford lies at the heart of the City of Bradford, a metropolitan borough of West Yorkshire, in Northern England. It is situated in the foothills of the Pennines, west of Leeds, and northwest of Wakefield. Bradford became a municipal borough in 1847, and received its charter as a city in 1897...
, England
England
England is a country that is part of the United Kingdom. It shares land borders with Scotland to the north and Wales to the west; the Irish Sea is to the north west, the Celtic Sea to the south west, with the North Sea to the east and the English Channel to the south separating it from continental...
.
The company was founded by Sir Willie Greenwood
Greenwood
- Canada :* Greenwood, Calgary, Alberta, a neighbourhood* Greenwood, British Columbia, a city* Greenwood, Nova Scotia, a village* Greenwood, Halifax County, Nova Scotia, a community in the Halifax Regional Municipality...
in 1860 as a hatter
Hatter
A hatter is a person engaged in hatmaking.Hatter also may refer to:*The Hatter, a fictional character in Alice's Adventures in Wonderland* Luton Town F.C., team a.k.a. "The Hatters"* Stockport County F.C., team a.k.a. "The Hatters"...
s shop. At its peak in the 1990s there were around 200 branches of the store.
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
Administration (insolvency)
As a legal concept, administration is a procedure under the insolvency laws of a number of common law jurisdictions. It functions as a rescue mechanism for insolvent entities and allows them to carry on running their business. The process – an alternative to liquidation – is often known as going...
and a subsidiary of Harvest Fancy Hong Kong bought 87 of the 92 stores across the UK
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
from the administrators.
Prior to entering administration, Greenwoods had a turnover
Turnover
-Business:*Turnover is sometimes a synonym for revenue , especially in European and South African usage.Services sold by a company during a particular period of time....
of £25.9m and employed 579 people.
Accounting for 20 percent of the company’s revenue, the 1860 brand has raised the profile & it is acknowledged as the second largest formal garment hirer in the UK. Greenwoods has recently introduced a slim-fit range of suits, shirts, ties and shoes under the 1860 brand, which has proved to be hugely successful with the younger market.
There are currently 80 stores across the UK. Greenwoods are continuing to improve and upgrade the image of its stores with significant investment programme which is funded by their parent company, Pacific Trend Investment.