UK: Ethel Austin collapses into administration again
Value clothing chain Ethel Austin has collapsed into administration for the fourth time in as many years, putting 500 jobs at risk.
The troubled retailer said the move follows a marked downturn in sales brought on by the economic difficulties facing the UK.
Parent company Ashloch operated 48 stores across the UK under the Ethel Austin and Life & Style banners.
In a statement sent to just-style, administrators Duff & Phelps said: "At this stage redundancies and/or store closures affecting the Company's circa 500 staff cannot be ruled out."
Duff & Phelps said it is reviewing the retailer's financial position but is continuing to trade the business while seeking a buyer.
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