|Number of locations||80 (April 2011)|
|Operating income||£22,000 (2008)|
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.
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.
- "Profits drop is 'irrelevant', insists Greenwoods group", Yorkshire Post, 28 May 2008, retrieved 2009-01-28
- "556 jobs saved by Greenwoods deal", Bradford Telegraph and Argus, 23 January 2009, retrieved 2009-01-28
- About 1860, 1860.com, retrieved 2009-01-28
- Hall, James (24 January 2009), "Chinese buy Greenwoods", Daily Telegraph (London), retrieved 2009-01-28
- "556 jobs at Yorkshire clothing store Greenswood Menswear saved by administrators", Yorkshire Evening Post, 26 January 2009, retrieved 2009-01-28
- Greenwoods Menswear - Menswear at its finest, Retail Digital, 6 December 2010, retrieved 2010-12-06
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