Home / Knowledge / News / Apparel/Garments / Ethel Austin retail chain shuts down
Ethel Austin retail chain shuts down
02
Mar '10
The administrator of Ethel Austin was compelled to close down its 114 outlets, due to which around 1,000 people working for the retailer were rendered unemployed.

Ethel Austin went in to administration for the second time in two years. The Mersey side-based chain, together with Au Naturale, its homewares sister company fell into administration, owing to low business during Christmas and unpleasant climate in January which adversely affected its cash flow.

MCR, the administrator, said that by end of the week majority of the stores that were to be closed will cease trading and this would result in rendering 1,048 people jobless.

Geoff Bouchier, MCR's joint administrator, said that considering the current economic scenario, the outlets which were marked for closure, failed in drawing any prospective buyer. Unfortunately, on account of their present financial functioning, these outlets will cease to trade in near future.

Fibre2fashion News Desk - India

Must ReadView All

Courtesy: H&M

Apparel/Garments | On 30th Mar 2017

H&M group's sales increase 7% in 3 months to Feb '17

The H&M group's sales including VAT amounted to SEK 54,369 million...

Textiles | On 30th Mar 2017

Vietnam’s textile & garment exports earn $4bn in Jan-Feb

Vietnam earned $4 billion from textile and garment exports in the...

Textiles | On 30th Mar 2017

India Inc should work for July 1 GST roll out: Fin sec

The Goods and Services Tax (GST) will take India into a very exciting ...

Interviews View All

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search