Austin Reed to make high street return

Thu, 24 Nov 2016 | ADMINISTRATION

Menswear retailer Austin Reed is to return to the high street with 50 new stores just seven months after it fell into administration.

Edinburgh Woollen Mill, which has acquired five concession stores and the rights to the Austin Reed brand, said the new shops will open by 2018 as part of a £100 million revival plan.

The first stores, including a flagship in London, are set to open at the end of next year. Edinburgh Woollen Mill has already launched the brand online.

Austin Reed, which was founded in 1900, fell into administration in April with the closure of 120 stores and the loss of 1,000 jobs.

Edinburgh Woollen Mill, owned by the entrepreneur Philip Day, has embarked on a major expansion plan and wants to open 200 stores across its group by 2018, creating around 2,000 jobs.

Steve Simpson, group commercial director of Edinburgh Woollen Mill, said Austin Reed would help the group deliver organic growth.

“By remaining debt-free and with a strong balance sheet, we are always ready to take advantage of any further opportunities through acquisitions, as and when they may arise,” he said.

Edinburgh Woollen Mill also operates the clothing chain Peacocks and fashion store group Jane Norman.

Find retail businesses for sale.

Retail businesses in administration


Share this article



Latest Businesses for Sale

Accountancy Practice
Norfolk, UK Wide

The practice has been around for over two decades with virtually zero DB transfer exposure and a focus on financial planning. The Practice represents one of the cleanest Businesses you’re likely to see anywhere on the marketplace at this time. Number...

Asking Price: £750,000
Turnover: £300,000

Manufacturer of Niche Agricultural & Engineering Products
West Midlands, UK

This well-established manufacturer for sale has been trading for over 185 years and has built up a considerable niche business for agricultural and engineering products for a cross-section of industry sectors. The business to be sold is ideal for acq...

Asking Price: Offers Invited
Turnover: £1,700,000

Wealth Management Firm
Hampshire, UK Wide

Highly Profitable Wealth Management Firm. Great Staff Base Who Will Remain and Continue to Manage the Clients. Established: 25 to 30 years. Number of staff: 5 to 10. Offers invited.

Asking Price: £4,500,000
Turnover: £1,400,000


View more businesses for sale

News Search

Latest News

 
21
 
Feb
 

Street food catering firm seeks buyer after entering administration | ADMINISTRATION

Shrewsbury-based catering company MPM Catering has entered a...

 
20
 
Feb
 

Heycar acquires HonestJohn.co.uk following administration | BUSINESS SALE

Online used car service Heycar has purchased the independent...

 
19
 
Feb
 

On-demand laundry app snapped up after administration | BUSINESS SALE

Laundrapp, an on-demand laundry service which was touted as ...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
27
 
Apr
 

Hope for upmarket retailer Austin Reed to continue as going concern | ADMINISTRATION

Although upmarket tailor and suit retailer Austin Reed has f...

 
25
 
Jun
 

Stripped down Jane Norman is placed in administration | ADMINISTRATION

Women’s fashion clothing seller Jane Norman has put it...

 
19
 
Mar
 

Firetrap brand saved in pre-pack administration | BUSINESS SALE

High street fashion brand, Firetrap, has been partially boug...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources