Nearly another 1,200 high street jobs are under threat after 116-year-old retailer Austin Reed collapsed into administration just a day after the failure of BHS.
Global business advisory firm AlixPartners was appointed 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.
The move deals another blow to Britain’s high street following the administration of BHS on Monday, which has put 11,000 jobs under threat and threatened the closure of up to 164 stores in the biggest retail failure since Woolworths went under in 2008.
