News: Ethel Austin in administration again
After surviving three previous administrations and takeovers, the Ethel Austin store in Rotherham town centre looks to have closed down.
On July 18, Duff & Phelps were appointed joint administrators of Ashloch Limited who traded as women's fashion retailer, Ethel Austin and Life & Style Retail.
Last week the administrators announced that a sale of 32 of the group's 48 stores had been agreed to Ricli Limited with seven stores closing. According to the administrators, these closures have been forced on them by landlords who have demanded Ethel Austin vacate the shops immediately.
The Rotherham store in All Saints' Square was not named as part of the sale or one of those closing.
John Gorle, national officer at retail union, Usdaw, said: "For much of the past four years, Ethel Austin's long-suffering but loyal staff haven't even known whether they'd get paid one day to the next and we are still trying to secure payment of wages they are owed for the period of June 28 to July 18, when the company entered administration again.
"The vast majority of stores also have no formal lease arrangements and although the administrators are hopeful that landlords will co-operate in the short term, it is possible that some landlords will refuse to allow the business to continue trading."
The brand was created by Ethel Austin in Liverpool in 1934 and grew to over 300 stores in 2008.
Philip Duffy, joint administrator at Duff & Phelps, said: "We are extremely pleased to have concluded the sale preserving 198 jobs in the process. Also the sale ensures a future for this well established business.
"The remaining nine stores, the Company's head office and warehouse operations will continue to trade under the supervision of the Joint Administrators whilst a purchaser is sought."
That appears unlikely in the case of the Rotherham store given that it is closed and cleared of stock. In addition, commercial property agents, Pearl & Coutts is already advertising the unit to let.
Images: Tom Austen
On July 18, Duff & Phelps were appointed joint administrators of Ashloch Limited who traded as women's fashion retailer, Ethel Austin and Life & Style Retail.
Last week the administrators announced that a sale of 32 of the group's 48 stores had been agreed to Ricli Limited with seven stores closing. According to the administrators, these closures have been forced on them by landlords who have demanded Ethel Austin vacate the shops immediately.
The Rotherham store in All Saints' Square was not named as part of the sale or one of those closing.
John Gorle, national officer at retail union, Usdaw, said: "For much of the past four years, Ethel Austin's long-suffering but loyal staff haven't even known whether they'd get paid one day to the next and we are still trying to secure payment of wages they are owed for the period of June 28 to July 18, when the company entered administration again.
"The vast majority of stores also have no formal lease arrangements and although the administrators are hopeful that landlords will co-operate in the short term, it is possible that some landlords will refuse to allow the business to continue trading."
The brand was created by Ethel Austin in Liverpool in 1934 and grew to over 300 stores in 2008.
Philip Duffy, joint administrator at Duff & Phelps, said: "We are extremely pleased to have concluded the sale preserving 198 jobs in the process. Also the sale ensures a future for this well established business.
"The remaining nine stores, the Company's head office and warehouse operations will continue to trade under the supervision of the Joint Administrators whilst a purchaser is sought."
That appears unlikely in the case of the Rotherham store given that it is closed and cleared of stock. In addition, commercial property agents, Pearl & Coutts is already advertising the unit to let.
Images: Tom Austen
0 comments:
Post a Comment