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Monday, 14 January 2013

Ethel Austin in administration for fourth time in four years...

Yet again Ethel Austin has gone into administration.  This is the fourth time in four years and it was in administration some years before that.   The Liverpool based clothing retailer has faced fierce competition from Primark and Zara in the last few years

This is a brand/business that sounds like it needs to be laid to rest!  The last administration was in July 2012 when 48 stores were in the hands of the administrators.  30 of these stores were bought out of administration by entrepreneur, Mike Basso, who said he had been unable to keep the business afloat.

Mr Basso added that the company had been forced to act to protect creditors and that his involvement with the business had been very painful.

Back in 2008 the company had 300 stores employing 3000 staff when it went into administration.

If anyone is thinking of buying this brand....... Caveat emptor!

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