High Street retailer Austin Reed’s 120 stores will close by the end of June.
Administrator AlixPartners has announced the closure of the shops, which include 100 Regent Street, W1, and 208 Cribbs Causeway in Bristol.
AlixPartners said it would implement a “managed wind-down process” because no viable offers had been received for the business.
Austin Reed entered administration last month blaming cashflow problems.
“Despite a significant number of interested parties coming forward during this period, it became clear as the process progressed that a viable solution which kept the business whole was not forthcoming,” said Peter Saville, joint administrator.
“As a result, we have made the difficult decision to cease trading the business and commence a wind-down of the estate.”
Edinburgh Woollen Mill owner Philip Day is understood to have bought the Austin Reed and Country Casuals brands and five stores in Boundary Mills discounter outlets in the north of England.
Austin Reed’s five priciest shops
| Address | Size (sq ft) | Rent (£ pa) |
|---|---|---|
| 100 Regent Street, W1 | 23,500 | 2.9m |
| Cribbs Causeway, Bristol | 4,000 | 422,000 |
| Bentall Centre, Kingston | 4,300 | 375,000 |
| Poultry, EC2 | 3,100 | 253,249 |
| Canary Wharf, E14 | 1,900 | 237,500 |
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