Llandudno and Mold,North ales - Viyella stores jobs risk as Austin Reed goes into administration

Viyella store in Llandudno

• 26 APR 2016
• BY OWEN HUGHES

The company said it was suffering from cash flow difficulties arising from challenging retail conditions

Jobs are at risk at Viyella stores in Mold and Llandudno after retailer Austin Reed went into administration.

More than 1,000 staff who work at Austin Reed and Viyella Men, Viyella Women and Country Casuals are under threat of redundancy following the announcement.

There are no Austin Reed stores in North Wales but there is a Viyella Women store inLlandudno and Viyella Women and CC (Country Casuals) shop in Mold .

The stores will remain open as administrators seek a buyer.

This follows the news yesterday that BHS had gone into administration, putting jobs at risk at their Llandudno and Wrexham stores.

AlixPartners Services UK LLP (AlixPartners), were today appointed Joint Administrators over Austin Reed Limited, Austin Reed Group Limited, ARG (Property) Limited, Country Casuals Limited, Country Casuals Holdings Limited and Darius Capital Limited (the Group).

READ: BHS stores in Llandudno and Wrexham go into administration

The appointment of Administrators was made by the Directors of the Group and comes as a result of cash flow difficulties arising from challenging retail market conditions.

Following their appointment, the Joint Administrators will continue to trade the Group while exploring all possible options for its future including a sale of all or parts of the business.

Founded in 1900 the fashion retailer, headquartered in London, has 100 standalone stores and 50 concessions throughout the UK and Ireland. The Group employs a total of 1184 staff across its network.

BHS administration: Five retailers who could take on Llandudno and Wrexham sites

Peter Saville, Joint Administrator, said: "Our priority now is to work with all stakeholders and determine the optimum route forward for the business as we continue to serve customers throughout the UK and Ireland.

"Austin Reed is a well-regarded and iconic brand and therefore we are confident that it is an attractive proposition for a range of potential buyers, as such we expect, and welcome, contact from interested third parties.”

see-http://www.dailypost.co.uk/business/business-news/mold-llandudno-viyella-stores-jobs-11245050