Au Naturale enters administration
Published: 25 February 2010
Homewares retailer Au Naturale Limited will close 27 stores with an estimated loss of 270 jobs after entering into administration on 8 February.
Its sister company, clothing retailer Ethel Austin Limited, has also gone into administration with 87 stores closing.
162 stores, only two of which are Au Naturale retail outlets, will continue to operate as usual while a buyer is sought for the remaining businesses as a going concern.
Most of the stores due to close will cease trading by the end of February and a total of 1,048 positions will be made redundant across the two companies.
Geoffrey Bouchier, David Whitehouse and Philip Duffy of MCR have been appointed as joint administrators of the companies.
Mr Bouchier said: "In light of the current economic climate these stores identified for closure did not attract a purchaser. Regrettably, as a result of their current financial performance, these stores will shortly cease to trade. "
He added: "We are still hopeful of selling the remaining business and discussions are ongoing with a number of interested parties. The dealings relating to the closure stores will not effect the operations of the continuing stores."