MCR administrators close Ethel Austin

Administrators confirmed they are to close 114 stores and make over 1,000 positions redundant at clothing retailers Ethel Austin and sister company Au Naturale.

Geoff Bouchier, joint administrator and partner at MCR, said: "In light of the current economic climate these stores identified for closure did not attract a purchaser. Regrettably, as a result of their current financial performance, these stores will shortly cease to trade."

"We are still hopeful of selling the remaining business and discussions are ongoing with a number of interested parties," he added.

The 114 stores will close by the end of February with the remaining 162 trading as normal while a buyer is sought.

Ethel Austin and its sister company employ more than 3,700 staff.

Further reading:

Ethel Austin back in administration