Jobs saved at Ethel Austin stores

Ethel Austin has 300 stores across England and Scotland

More than 2,500 jobs have been saved at Merseyside-based clothing store Ethel Austin after it was bought by the ex-boss of another high street chain.

The company, which is the official supplier of uniforms for Liverpool Capital of Culture, announced it had gone into administration last month.

It has been sold to Elaine McPherson, who used to head clothing chain MK One.

Ms McPherson's company will undertake a strategic review of the company before "breathing new life" into it.

The company, which was established in 1934, employs about 2,800 staff - at 300 stores from Scotland to the south of England, and at its headquarters in Knowsley, near Liverpool.

The firm's latest annual turnover was in the region of £150m.

'Former glory'

Phil Duffy from administrators Menzies Corporate Restructuring said: "This is a fantastic result for the business, allowing the Ethel Austin brand to maintain its strong presence in the high street, whilst also saving 2,500 jobs.

"Ethel Austin is a big name in the value clothing retail sector and we're delighted to see it acquired by such an experienced retailer."

Ms McPherson said: "I'm incredibly excited to have the chance to breathe new life into Ethel Austin.

"Despite its obvious trading difficulties and the recent regrettable loss of jobs and store closures, Ethel Austin remains a great value brand with a strong customer base.

"I shall be undertaking a thorough review of the business to produce a strategy to transform the business's trading performance and safeguard jobs.

Ms McPherson said she wanted to return the chain "to its former glory", revamping its stores and product ranges.

She added: "Despite the current tough economic conditions putting household budgets under pressure, I believe that a combination of quality and great value clothing can make Ethel Austin a retail success story once again."

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