Industry Retail Founder Willie Greenwood Number of locations 80 (April 2011) | Founded 1860 Headquarters Bradford, England Products Menswear | |
Greenwoods is a chain of menswear stores with headquarters in Bradford, England.
Contents
History
The company was founded by Sir Willie Greenwood in 1860 as a hatters 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.
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
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.
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.