After more than a century on the high street, menswear retailer Austin Reed is to close all 120 of its stores across the

Austin Reed, a historic British retailer, has gone into administration and failed to find a buyer, leading to the closure of 120 stores and the loss of 1000 jobs. Despite its strong brand reputation, Austin Reed struggled to keep up with the fast-paced retail environment and modern consumer demands. The brand and stock have been acquired by the Edinburgh Woollen Mill, but the rest of the business remains unsold. This situation serves as a warning to other retailers about the importance of modernization and online market engagement.

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