Crisis deepends on the UK high street
Another 1,200 jobs are under threat in the UK in the latest blow to the High Street. The 116-year-old retailer Austin Reed collapsed into administration yesterday, just a day after the failure of BHS.
Global business advisory firm AlixPartners was appointed joint administrator to the menswear group, which has 100 stores, 50 concessions and employs 1,184 staff.
Austin Reed will continue to trade while AlixPartners seeks a rescue deal for all or part of the business.