Ethel Austin back in administration

Value clothing retailer Ethel Austin has entered administration for the second time in three years.

Partners from MCR were appointed as joint administrators to the 300-store, 70-year old retailer today.

"In the current economic climate there are no guarantees that purchasers will be found. We are reviewing the financial position of the companies and are at this stage, unable to rule out store closures and redundancies," said joint administrator Geoff Bouchier.

Ethel Austin and its subsidiary Au Naturale employ more than 3,700 staff.

The retailer has been hit by funding problems and poor trading in January, the administrators said.

Further reading:

Ethel Austin rescued by ex-MK One chief