Austin Reed to close all shops

Austin Reed to close all shops

Austin Reed is going to close all 120 of its stores by the end of June, with around 1,000 members of staff losing their jobs.

Sadly, the administrators said that there's been no viable offers for the troubled clothes-retailer.

Peter Saville, joint administrator at AlixPartners, said: "We have explored all options to sell the business since our appointment and continued to trade the business with the support of the secured creditors in what is clearly an extremely challenging retail environment."

"Despite a significant number of interested parties coming forward during this period it became clear as the process progressed that a viable solution which kept the business whole was not forthcoming."

"As a result we have made the difficult decision to cease trading the business and commence a wind-down of the estate."

"We would like to take this opportunity to thank all employees for their support and efforts during this unsettling period and wish them well for the future."

So, if you've got any business you need tying up with Austin Reed, this is what they have to say:

"In light of the recent sale of certain Austin Reed group assets, the website is no longer processing orders."

"If you would like to make a purchase, please visit one of the stores which will remain open for the time being."

"If you have any questions regarding your outstanding order, please contact our customer care team on: 0844 800 2977 or email [email protected]"

"Customers requiring further information can refer to the FAQ document."

Selfishly, there might be a fire clearance on some suits, so it might be worth popping down and seeing what you can get your hands on.

What do you think?

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