THE RETAIL BULLETIN - The home of retail news
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
Retail Solutions
Food & Drink
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE
Ethel Austin in administration

3,700 jobs could be at risk after discount clothing retailer Ethel Austin and sister homewares chain Au Naturale called in administrators.

CITY & CORPORATE

Ethel Austin in administration

Geoff Bouchier, David Whitehouse and Philip Duffy, Partners at MCR have been appointed Joint Administrators of Ethel Austin Limited and Au Naturale Limited

Ethel Austin is one of Britain's value clothing retailers with a nationwide network of nearly 300 stores extending from Scotland to the South West, and from Wales to the South East. The business was established more than 70 years ago and has grown to become one of Britain’s leading value clothing retailers with a national presence.

The company’s Head Office is at Knowsley on Merseyside, only 10 miles away from where the business was founded by Ethel Austin herself. Its sister company is the Au Naturale homewares chain.

Geoff Bouchier, Partner, MCR, stated: “The Joint Administrators are trading the Companies in Administration in the short term with a view to finding a purchaser for the businesses as a going concern. 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.”

There is no doubt in our mind that the onset of the global economic crisis has hit the retail sector particularly hard. As a consequence of this the Companies have struggled to secure funders, which in turn has impacted their ability to generate sales revenue.

This has been compounded by poor trading conditions in January attributed to the adverse weather conditions, which severely restricted the Companies’ cash flow. The Companies have continued to seek additional finance up until very recently but without success,” added Geoff.

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

Retail Human Resources Summit
Retail Human Resources Summit
Wednesday 3 October 2018
The Cavendish Conference Centre, London W1
The 10th HR Summit 2018, The Cavendish Conference Centre, London W1, 3rd October 2018
The Retail Design Summit 2018
The Retail Design Summit 2018
14 November 2018
The Cavendish Conference Centre
The Retail Design Summit 2018
Omnichannel Futures Conference 2019
Omnichannel Futures Conference 2019
6 February 2019
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Summit
National Minimum Wage Breakfast Briefing
National Minimum Wage Breakfast Briefing
20 September 2018
6th Floor 1, St. Martin's Le Grand London, EC1A 4AS
National Minimum Wage Breakfast Briefing