Edinburgh Woollen Mill: What went wrong?

A BRIEF TIMELINE
1946: Edinburgh Woollen Mill was founded by Andrew Stevenson as the Langholm Dyeing and Finishing Company Ltd, dyeing wool yarn to order.
1966: Stevenson’s eldest son David was appointed managing director.
1970: David Stevenson opened the first retail store in Randolph Place, Edinburgh.
1972: The first English store opened in Carlisle.
1988: David’s younger brother Neil Stevenson was appointed co-managing director of Langholm Dyeing and Finishing Company, helping inc