Jobs to go as more Ethel Austin stores close
25 February 2010 09:49
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.
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