Ethel Austin and Au Naturale 114 stores to close
MCR, the administrators of value clothing retailer Ethel Austin and its sister company Au Naturale, has confirmed the imminent closure of 114 stores.
This follows a statement earlier this month announcing that 129 retail outlets were to begin closing down sales. Most of the 114 stores will cease trading by the end of February and a total of 1,048 positions will be made redundant.
Geoff Bouchier, joint administrator and Partner of MCR, stated: “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.”
The remaining 162 stores will continue to operate as usual while a purchaser for the rest of the businesses as a going concern is sought. “We are still hopeful of selling the remaining business and discussions are ongoing with a number of interested parties. The dealings relating to the closure stores will not effect the operations of the continuing stores”.
