Ethel Austin in administration again

Mon Feb 8 2010 14:33:30

The future of the 76-year-old discount retailer Ethel Austin is in doubt after the group called in the administrators for the second time in two years.

Nearly 300 stores could face closure after the business failed to build on its rescue from collapse in May 2008.

MCR have been appointed as administrators with hundreds of jobs in the balance as they try to find a buyer.

Redundancies have not been ruled out as the administrator goes through the retailer's books.

Ethel Austin currently employ 3,714 staff including 400 at their head office. The firm is based in Knowsley, Merseyside, only 10 miles from where the business was founded in 1934.

Elaine McPherson, former chief executive and joint owner of MK One, bought Ethel Austin out of administration in 2008. The group has come under increasing competition from other budget chains like Primark and Matalan.

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