2:41pm Tuesday 9th February 2010
By Chris Hopper
DOZENS of East Lancashire jobs are at risk after high-street retailer Ethel Austin was placed into administration for the second time in two years.
Administrators said they were hopeful of finding a buyer for the stricken firm but said that there were “no guarantees” over jobs.
Ethel Austin, which also owns the Au Naturale brand, has seven outlets in East Lancashire.
the Manchester-based administrator MCR has kept all shops open as it begins the restructuring process.
Geoff Bouchier, a partner at MCR, said: “The joint administrators are trading the companies in administration in the short-term with a view to finding a purchaser for the businesses as a going concern.
“In the current economic climate there are no guarantees that purchasers will be found.
“We are reviewing the financial position of the companies and are at this stage, unable to rule out store closures and redundancies.”
Mr Bouchier said that Ethel Austin had been hampered by difficulties in securing finance and by the cold snap, which hit cash flow.
Yesterday’s announcement came less than two years after the Merseyside-based company was put into administration in April 2008.
It was saved a month later after Elaine McPherson, a previous chief executive, bought it out and pledged to return it to its “former glory”.
Ethel Austin has stores in Northgate, Blackburn; Market Street, Darwen; the Arndale Centre, Accrington; Market Street, Chorley; Bank Street, Rawtenstall; Pendle Rise shopping centre, Nelson; and Market Street, Colne.
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