BREAKING NEWS: Austin Reed in Stratford to close

AUSTIN REED’S store in Stratford-upon-Avon is to close by the end of June.

The nationwide clothing retailer went into administration in April and today (Tuesday) it was announced that all 120 stores would close by the end of June with the loss of over 1,000 jobs.

When the Herald telephoned the Austin Reed store on the corner of Wood Street and High Street, Stratford, the shop manager did not wish to comment and hung up.

Peter Saville, of administrators Alix Partners Services UK, said: “We have explored all options to sell the business since our appointment and continued to trade the business with the support of the secured creditors in what is clearly an extremely challenging retail environment.

“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.

“As a result we have made the difficult decision to cease trading the business and commence a wind-down of the estate. We would like to take this opportunity to thank all employees for their support and efforts.”