Difficulties, Administration
On 15 April 2008, Ethel Austin Ltd went into administration, managed by Menzies Corporate Restructuring. The following day, it was announced that 33 stores would be closed within three weeks, with 275 job losses, with an additional 181 employees made redundant at the company head office and distribution centre at Knowsley, Merseyside. On 19 May 2008, it was reported that Elaine McPherson, former boss of clothing chain MK One, had bought the company for an undisclosed sum, promising to return it to its 'former glory'.
On 8 February 2010, it was reported that the chain had gone into administration again. On 10 February 2010 administrators announced that there would be 496 job cuts in the company's head office and distribution depot. It was anticipated that there would also be 196 store closures, resulting in further job losses.
On 19 August 2011 it was revealed that Ashloch Ltd, founded by London-based former Blackwell's director Sue Townsend, had purchased the company and the 62 remaining Ethel Austin stores, saving over 400 jobs. However, Ashloch was forced into administration managed by Duff & Phelps on 11 July 2012, after a landlord of a Manchester store called in bailiffs after an unpaid rent bill, jeopardising the future of the company. Restructuring specialist GA Europe, a subsidiary of Great American Group, acquired the debt of Ashloch and operated the stores while the company was in administration. On 30 July 2012, Liric, a firm controlled by clothing entrepreneur Mike Basso, acquired 32 of the Ethel Austin stores from GA Europe.
On 11th January 2013, at 11am, the company went into insolvency and all remaining stores closed with immediate effect.
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