Austin Reed to begin winding down
BRITISH fashion retailer Austin Reed Ltd will start winding down as no viable offer was received for the company over a five-week sale process, its joint administrators said.
The 116-year-old retailer will shut its 120 stores by the end of June, which will affect about 1,000 jobs, Austin Reed's administrators at AlixPartners Services UK LLP said in a statement yesterday.
Five of the company’s outlets inside Boundary Mills stores will be sold to AR Operations. The deal includes the transfer of 28 employees to AR Operations.
The retailer's “Austin Reed” and “Country Casuals” brands have also been sold to Border IP Ltd.
The statement did not provide the value of both deals. An AlixPartners spokeswoman was not available for comment.
- About Us
- |
- Terms of Use
- |
- RSS
- |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证:沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证:31120180004
- |
- 网络视听许可证:0909346
- |
- 广播电视节目制作许可证:沪字第354号
- |
- 增值电信业务经营许可证:沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.