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Home Markets Company News Ethel Austin: Closing down sales announced
Ethel Austin: Closing down sales announced PDF Print E-mail
Written by Sam Coventry   
Wednesday, 10 February 2010 16:05
Closing down sales at 129 retail outlets of value clothing retailer Ethel Austin and its sister company Au Naturale, have been announced by joint administrators Geoff Bouchier, Philip Duffy, and David Whitehouse of the companies administrators MCR.
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"MCR is now conducting a parallel strategy. All stores are to enter into a sale campaign commencing tomorrow while we continue to seek a purchaser for the Companies businesses,” stated Geoff Bouchier, Partner at MCR.

Specifically 129 of the Companies stores have been identified as loss making and as a consequence those stores will enter a closing down phase which will commence tomorrow.   A rescue of these stores by a willing purchaser has not been ruled out.

The Distribution Centre, which was operating on a much reduced basis prior to the administration, is to cease remaining operations and as a consequence 404 of the Distribution Centre employees have been made redundant with effect from today.

The joint administrators have also undertaken a review of the head office function and consequently identified a further 65 positions which have become immediately redundant.

“The joint administrators have also been in regular dialogue with both the trade unions and local government authorities during this time to discuss the immediate prospects of the Companies and that of the employees,” he added.

The joint administrators have today confirmed that all unpaid wages owing at the date of the administration will be paid via the administration in full in line with usual payment dates.
Last Updated ( Wednesday, 10 February 2010 16:06 )