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Ethel Austin slips into administration

Discount clothes retailer Ethel Austin has today been placed into administration with 3,700 jobs at risk as the company struggles to survive. Administrators took control of the company early today with the snowy weather over the festive period one of a number of factors which appeared to have pushed the company over the edge. While it is hoped that buyers will step forward to acquire the business as a going concern, with sister firm Au Naturale also in administration, it will be a big ask in the current economic climate.

The company has a history which goes back to 1934 and has been visible on the UK high street for many years. It is believed that the festive period brought various cash flow issues to the table which the company has been unable to rectify in the short term. In the end there was little option but to place the companies into administration and see whether trade buyers would step forward.

Today's news is a stark reminder that despite indications that the UK economy may well have turned up towards the end of 2009 there are still many hurdles and obstacles ahead. Ethel Austin has been an integral part of the UK high street for many years but unless a buyer steps forward in the short term it could disappear altogether.

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