Austin Reed has collapsed into administration.
Alix Partners has been appointed as administrator, and retail agency GCW has been instructed to advise on its property portfolio.
The 115-year-old clothing brand has been struggling in recent years, and last year closed 31 unprofitable shops through a CVA and sold its flagship Regent Street shop in 2011.
GCW will be advising on its remaining 155 shops and it is also looking to sell its new Regent Street shop at 100 Regent Street, W1.
The business generated £5.4m in pre-tax losses for the 12 months to the end of January 2015, up from £1.2m a year earlier.
Its revenues fell to £100m from £109m as the chain has failed to keep with high street rivals such as TM Lewin.
Alteri Investors, backed by Apollo Global Management, recently bought Austin Reed’s debt and equity from Darius Capital, a group controlled by property tycoon Guy Naggar, who was previously involved in the former investment company Dawnay Day.
• To send feedback, email amber.rolt@estatesgazette.com or tweet @amberrolt or @estatesgazette
