The Austin Reed store in Canary Wharf has closed for good a month after the business went into administration.
Suits and the brand sign can still be seen hanging inside the store in Cabot Place but the doors are shut and a sign states: “This store is closed. your nearest store is Poultry.”
The majority of the menswear brand’s 120 shops will also shut up shop by the end of June, with the loss of 1,000 jobs, after administrators were unable to find a buyer for them.
Edinburgh Woollen Mill owner Philip Day is understood to have bought the Austin Reed and Country Casuals brands and five concessions in Boundary Mills discounter outlets, saving 28 jobs.
Administrators AlixPartners said no offers had been received for the rest of the business despite a five-week sales process and the rest of Austin Reed’s stores would close by the end of June.
The company’s website lists 25 stores that are still open, including Poultry and Regent Street, and says it will accept gift vouchers in store but not online and will honour credit balances on store cards until Tuesday, May 31.
Joint administrator Peter Saville, of AlixPartners, told The Telegraph the head office will also close and said: “We have explored all options to sell the business since our appointment and continued to trade the business with the support of the secured creditors in what is clearly an extremely challenging retail environment. Despite a significant number of interested parties coming forward during this period it became clear as the process progressed that a viable solution which kept the business whole was not forthcoming.
“As a result we have made the difficult decision to cease trading the business and commence a wind-down of the estate. We would like to take this opportunity to thank all employees for their support and efforts during this unsettling period and wish them well for the future.”
Head of retail leasing at Canary Wharf Group Stuart Fyfe said: “We are saddened to lose one of the UK’s great retailer names that traded successfully at Canary Wharf for manyyears, where it could once be relied upon for a great range of brands and quality.”