Clothing retailer Edinburgh Woollen Mill - which has a store in Hexham - is among brands set to be rescued from the brink of closure.

Carlisle-based Edinburgh Woollen Mill has accepted a rescue deal along with Ponden Homes and Bonmarché.

About 2,500 jobs and 300 stores could be saved in the businesses combined.

Edinburgh Woollen Mill is part of the group of brands, all owned by businessman Phillip Day.

The knitwear retailer entered administration last year.

Edinburgh Woollen Mill, Ponden Homes and Bonmarche have all been saved by a consortium of international investors.

In addition to a long presence in Hexham town centre, Edinburgh Woollen Mill holds stores in both Keswick and Carlisle.

When placed into administration in November, joint administrators Tony Wright and Alastair Massey, partners at specialist business advisory firm FRP, said: "Recent months have proven extremely challenging for many retailers, even those that were trading well before the pandemic, including the teams at Edinburgh Woollen Mill and Ponden Home.

"The administrations will provide some further protection while we continue our search for buyers to secure the long-term futures for both businesses.

"We are working with all affected members of staff to provide the appropriate support.”