Greenwoods

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This article is about menswear store chain. For other uses, see greenwood (disambiguation).
Greenwoods
Industry Retail
Founded 1860
Founders Willie Greenwood
Headquarters Bradford, England
Number of locations 80 (April 2011)
Products Menswear
Revenue £29m (2010)
Operating income Decrease £22,000 (2008)[1]
Employees 500
Website www.greenwoodonline.com

Greenwoods is a chain of menswear stores with headquarters in Bradford, England.[2]

History[edit]

The company was founded by Sir Willie Greenwood in 1860 as a hatters shop.[1] At its peak in the 1990s there were around 200 branches of the store.[1]

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.[2][3] Prior to entering administration, Greenwoods had a turnover of £25.9m and employed 579 people.[4]

Greenwoods had their headquarters in Albion Mills, Greengates, Bradford but have moved to newly built premises on the Shipley Airedale Road nearer the city centre.

Today[edit]

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.[5]

Accounting for 20 percent of the company’s revenue, the 1860 brand has raised the profile and 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.

References[edit]

  1. ^ a b c "Profits drop is 'irrelevant', insists Greenwoods group", Yorkshire Post, 28 May 2008, retrieved 28 January 2009 
  2. ^ a b "556 jobs saved by Greenwoods deal". Bradford Telegraph and Argus. 23 January 2009. Retrieved 28 January 2009. 
  3. ^ Hall, James (24 January 2009). "Chinese buy Greenwoods". Daily Telegraph. London. Retrieved 28 January 2009. 
  4. ^ "556 jobs at Yorkshire clothing store Greenswood Menswear saved by administrators". Yorkshire Evening Post. 26 January 2009. Retrieved 28 January 2009. 
  5. ^ "Greenwoods Menswear - Menswear at its finest". Retail Digital. 6 December 2010. Retrieved 6 December 2010. 

External links[edit]