Administrators confirmed they are to close 114 stores and make over 1,000
positions redundant at clothing retailers Ethel Austin and sister company Au
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.
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies
Smith & Williamson has been appointed administrators of charity 4Children