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Ethel Austin to close 89 stores

The administrators of value retailer Ethel Austin are to shutter 89 stores, leading to 1,048 redundancies.

This follows the announcement earlier this month that 129 shops had been earmarked for closure.

The retailer, which will also close 25 stores at its homewares chain Au Naturale, will shutter most of the stores by the end of February.

Geoff Bouchier, joint administrator and partner of administrator MCR, said: “In light of the current economic climate these stores identified for closure did not attract a purchaser. Regrettably, as a result of their current financial performance, these stores will shortly cease to trade.” 

The remaining 162 shops will continue to operate as usual while a buyer is sought. “We are still hopeful of selling the remaining business and discussions are ongoing with a number of interested parties. The dealings relating to the closure stores will not effect the operations of the continuing stores,” said Bouchier.

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