Austin Reed store at Meadowhall to close by end of June

Austin Reed is to shut all of its 120 stores - including its Meadowhall site - by the end of June, resulting in the loss of around 1,000 jobs.
By The Newsroom
Published 31st May 2016, 13:58 BST
Updated 31st May 2016, 15:03 BST
File photo dated 26/04/16 of a man carrying an Austin Reed bag, as the chain is to close 120 stores, resulting in the loss of approximately 1,000 jobs, administrators have said. PRESS ASSOCIATION Photo.File photo dated 26/04/16 of a man carrying an Austin Reed bag, as the chain is to close 120 stores, resulting in the loss of approximately 1,000 jobs, administrators have said. PRESS ASSOCIATION Photo.
File photo dated 26/04/16 of a man carrying an Austin Reed bag, as the chain is to close 120 stores, resulting in the loss of approximately 1,000 jobs, administrators have said. PRESS ASSOCIATION Photo.

Administrators for the collapsed menswear retailer failed to find a buyer for the entire business, meaning the Meadowhall store will shut with the loss of around 20 jobs.

But the Austin Reed concession which operates inside the Boundary Mill outlet at Catcliffe Retail Park has been saved as part of a deal with Edinburgh Woollen Mill, which is taking on the Austin Reed brand and five concessions.

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Peter Saville of administrator 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 it became clear as the process progressed that a viable solution which kept the business whole was not forthcoming. We have made the difficult decision to cease trading.”

Related topics:Meadowhall