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Timeline: The fall of Austin Reed

As Austin Reed closes the doors of its 120 stores for the last time, Drapers looks back at the fall of the 116-year old retailer.

December 1 2014

Austin Reed enters talks with Deloitte to arrange a company voluntary agreement (CVA) after the retailer made a £1.29m loss.


February 5 2015

Austin Reed creditors approve the CVA and the ‘likely’ closure of 31 stores across the UK.


May 19 2015

Austin Reed receives a three- year loan for an undisclosed amount from Alteri investors.



October 5 2016

Austin Reed’s woes are underlined by £5.4m loss after the company more than quadruples its pre-taxes losses.


April 12 2016

The Austin Reed Group appoints turnaround consultancy group, AlixPartners.


April 16 2016

Austin Reed is bought by Alteri Investors.


April 22 2016

Austin Reed files notice of its intention to appoint administrators at the High Court, less than a week after it was acquired by Alteri Investors.


April 26 2016

AlixPartners is appointed administrator to the Austin Reed Group.


May 6 2016

Touker Suleyman, owner of menswear brand Hawes & Curtis and womenswear label Ghost, confirms his interest in the company admitting, “Yes, parts of the [Austin Reed] business are on my radar.”


May 9 2016

Sports Direct is understood to be among the businesses seeking to buy Austin Reed out of administration.


May 31 2016

Edinburgh Woollen Mill buys the Austin Reed name and its stock, but 1,000 jobs are still set to be lost after administrators failed to find a buyer for its stores.


June 1 2016

Joules emerges as one of the retailers interested in acquiring a number of Austin Reed Group stores.




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