The Ethel Austin store in Wellington is to remain open, reprieving staff jobs.
The Ethel Austin store in Wellington is to remain open, reprieving staff jobs.
Its saviour is Elaine McPherson, a high flying retailer, who put the company into administration after buying out its debts from the banks.
Ms McPherson, the former boss of retail fashion value chain Mark One, has been engaged in detailed talks with the administrators. They have now led to a deal, which saves the 74 year old business, 2,500 jobs and scales down dramatically the number of store closures.
Wellington is among those reprieved, along with Oswestry and Market Drayton. Staff have been told their jobs are safe and the company is being rebranded to Ethel Austin Ltd.
A spokeswoman for Wellington’s New Street store said themembers of staff were pleased their jobs had been saved as they had prepared for the store’s closure.
Town councillor Gary Davies said: “I’m absolutely thrilled for number one, the staff, because it’s a very difficult time all round in the town and indeed for the country.
“It’s good for Wellington because Ethel Austin serves the area well and I am sure that the people of Wellington and those who come to shop in Wellington will support them now that they have made this decision to keep the store open. It’s good news.”
Justin Strong, spokesman for Ethel Austin Ltd said 17 stores due for axing had been reprieved, leaving just 14 stores facing closure out of more than 300.
He said each of the Shropshire stores employed between eight and 10 members of staff, meaning up to 30 jobs had been saved.
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.”
