Austin Reed buys Viyella
Austin Reed has agreed to buy womenswear company Viyella from its administrators, securing around 230 jobs.
Viyella had about 450 employees when it collapsed into administration in January.
Since then, several stores have closed, including its concessions in the department store House of Fraser. “There are good synergies between the two companies and we wish Austin Reed a successful future,” said joint administrator Andrew Turpin. The administrators believe that about 21 stand-alone stores and 16 concessions would continue trading following the agreement.
Viyella, which dates back to 1784, had more than 100 stores and concessions across the UK and employed about 450 before it went into administration last month. Austin Reed trades in about 300 stores and concessions.
