Ethel Austin news and archive

Ethel Austin to be bought out of administration

Value retailer Ethel Austin has been saved from administration by Liric, a firm owned by clothing entrepreneur Mike Basso. Restructuring specialists GA Europe, which recently acquired the debt of Ashloch Ltd, which trades principally as Ethel Austin, has announced that Liric has bought 32 of its retail stores. Pending the phased handover of the...

Design

Ethel Austin enters into administration

Value retailer Ashloch Limited, trading as Ethel Austin and Life and Style, has plunged into administration for the fourth time since 2008. The retailer, which was last saved from administration by Sue Townsend, former director of bookseller Blackwell, last August, operates 48 stores mostly in the North and North West of England, the West...

Fashion

Life & Style chain in administration

Life & Style, a fashion and homewares retailer, has fallen into administration. Life & Style was set up in 2010 following the highly publicised administration of womenswear chain Ethel Austin. The company's banks appointed RSM Tenon administrators as it had filed an intention to appoint administrators a week ago in the Manchester High Court. SKG...

Fashion

Ethel Austin enters administration

Ethel Austin has gone into administration. The 300 store retailer dates back to 1934 and established itself as a leader in the value clothing retail sector. The latest annual turnover for the company is in the region of £150 million and the company employs around 2,800 staff throughout its stores and the Knowsley-based HQ in Liverpool. Appointed...

Fashion

Ethel Austen in takeover

Value retailer Ethel Austin is in a takeover bid spearheaded by Credit Suisse. The investment bank, backed by distressed-debt hedge funds, including New York-based Eos and London-listed Blue Bay, have offered a deal to inject about £5m into the company. In return, they would secure about 70% of the equity in Ethel Austin has 300 stores extending...

Fashion

Ethel Austin Announces Ambitious Expansion Plans

Ethel Austin, the UK value retailer, has announced it is planning a 200 store expansion over the next five years of its clothing stores.The drive for growth, which would create 2,500 new jobs totalling the store chain to 470 outlets, was described as "sensible and sustainable" by Ethel Austin chief executive Phil Hoskinson. The company confirmed...