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Daily Mirror
Daily Mirror
National
Graham Hiscott

Billionaire Edinburgh Woollen Mill head pays himself £16m windfall

The billionaire behind the Edinburgh Woollen Mill high street chain pocketed a £16million dividend.

Philip Day, 53, paid himself the cash from a retail empire which also includes Peacocks, Jaeger, Jane Norman and Austin Reed.

And he could get another £23million in dividends, which have been declared but not yet paid.

Accounts for Edinburgh Woollen Mill Group show an £81million profit for the 18 months to August 2018.

Steve Simpson, chief commercial officer, said it reflected its “commitment to the physical high street”.

Mr Day, from Stockport and now based in Switzerland, has been dubbed the “new king of the high street” after tycoon Sir Philip Green’s recent woes.

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