The Edinburgh Woollen Mill Group today (Friday) confirmed it has bought Tynwald Mills.

The retail giant, which has its international headquarters in Carlisle, has pledged to invest in the site at St John's 'immediately' and 'create new jobs over the long term'.

It also wants to help eventually attract more tourists to the island.

A spokesman for the Edinburgh Woollen Mill Group told Business News today:'We recognised straight away that Tynwald Mills represents an incredible opportunity.'

The group was 'proud and excited to have secured this fantastic site and look forward to becoming part of the community long term.'

The group said the move signals its ambitions to cement the retail centre as the number-one shopping destination site on the island for families and tourists.

The group believes the heritage site is an 'iconic fixture in the Isle of Man, home to a historic mill and the island's only department store, bringing together a diverse range of men's women's and homeware brands under one roof.'

The Edinburgh Woollen Mill group says it has decades of of experience improving, managing and drawing tourists to detination and historic sites which blend retail, catering and family attractions, such as the Scottish Deer Centre and the Masson Mills Shopping village in the UK.

Today's confirmation ended days of speculation over the future of Tynwald Mills.

Members of staff at the shopping complex were told that a deal to sell the complex had been completed.

Staff were also told it would be 'business as usual’ before representatives of the new owners arrive in the island next week.

Tynwald Mills has been established for more than 30 years at St John’s. It bills itself as the only department store in the Isle of Man.

It incorporates a historical mill, bringing many brands together under one roof.

It says on its website: 'We are renowned for our ability to evolve and provide a great shopping experience.’

In 2017 a proposed sale of Tynwald Mills failed. The sale of the complex to a Channel Islands group called Sandpiper CI was announced in January that year but by June it had fallen through.

The Edinburgh Woollen Mill Group, with shopping tycoon Philip Day at the helm, is a Carlisle-based retailer specialising in clothing, along with interests in homewares and so-called destination shopping for tourists.

Mr Day is a Dubai-based billionaire businessman who is the founder and chief executive of the Edinburgh Woollen Mill Group.

Read the Isle of Man Examiner on Tuesday for the full story