The dire performance from country casuals which has 200 stores across the uk prompted a profits warning from austin reed in july.
Work suits for sale. And chief executive nick hollingworth warned that a shake up of. The austin reed group acquires classic womenswear brand cc formerly known as country casuals 2009. The group now operates 981. The austin reed group acquires heritage brand viyella.
Yesterday it said like for like sales at the older womens. Owners said that some 35 austin reed and country casual stores are on the rapid closure list. With the addition of austin reed which we acquired earlier this year as well as country casuals and viyella we aim to continue this organic growth while always being ready to respond to other opportunities as they arise he said. Austin reed also owned the cc brand rebranded from country casuals.
1998 the austin reed group acquired classic brand cc formerly known as country casuals richard thompson acquired chester barrie from austin reed in 2005 kosugi sangyo was the austin reed ready to wear license holder in japan with retail value of 50 million. Some 26 country casual stores and nine austin reed stores are on a rapid closure list as part of a proposed cva. It is seeking rent reductions of 50 on these stores. Fashion retail group austin reed has sent a strong signal that it is considering selling its underperforming country casuals womenswear business.
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