BusinessBusiness RecoveryMCR administrators close Ethel Austin

MCR administrators close Ethel Austin

Administrators make over 1,000 positions redundant and close 114 stores

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

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