Menswear chain Austin Reed expected to collapse into administration today, risking 1,000 jobs
- Credit: PA
Menswear chain Austin Reed is expected to formally collapse into administration today, putting 1,000 jobs at risk.
The 115-year-old retailer Austin Reed Group, gave notice last Friday that it was lining up advisers to handle an administration.
It closed its Norwich branch, in London Street, in January, as part of a rescue deal to ensure a 'long-term sustainable future for the brands in the group'.
The store closed, and Austin Reed moved in Norwich store Jarrolds as a concession.