Ethel Austin on brink of adminstration

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The Independent Online

Ethel Austin, the discount fashion retailer, is set to collapse into administration on Monday, putting 2,500 jobs at risk.

The chain, which previously fell into administration in 2008, had been trying to secure a refinancing, but poor trading in January is thought to have sealed its fate. A spokesman confirmed last night it had served notice to appoint MCR as administrator. Aurelia Properties served a winding up order on Ethel Austin earlier this week.