Britain'S 100 Year Old Menswear Store Is In A State Of Bankruptcy.

April 26th, the famous hundred years in England

Austin Reid announced the entry into bankruptcy management process, which was followed by the bankruptcy of the British home store in the 25 department store chain, and another big British entity which declared bankruptcy.

Austin Reid was founded in 1900, and all walks of life in Britain favor his suit. During World War II, the brand also made military uniform for the British army.

Former British Prime Minister Churchill, Beatles Rock band and Ellizabeth Taylor and other celebrities were also Austin Reid's customers.

Today, however, the brand of the time-honored brand has fallen into bankruptcy.

Reporters interviewed Austen Reed flagship store on Regent Street in central London, a salesperson said.

They are all made of natural fine materials and exquisite workmanship. "I really don't understand why people don't like our suits."

Insiders pointed out that Austin Reid's bankruptcy was due to his failure to keep pace with his competitors.

Austin Reid, analyst at RSM, a business consultancy, emphasised that the products offered by the company were "lacking in consistency" and lack of product lines.

At the same time, Austin Reid's web page settings are not good enough, which is equally disappointing.

The bankruptcy administrator issued a statement that Austin Reid's predicament was attributed to the "huge challenges facing the clothing sales market" and "the predicament of capital flow".

Austin Reid's bankruptcy is not an example.

One day before, there were 88 years of history.

UK home stores have also declared bankruptcy management. 164 chain stores will be closed and about 11 thousand jobs will be left out.

In an interview with the British home shop in Oxford street, London, the reporter noticed that there were few customers and the staff looked depressed.

According to British media reports, the UK home store "has been challenged by cheaper and more technically capable rivals" with a debt of over 1 billion 300 million.

Last week, the British home store planned to sell some of its 164 chain stores to a sporting goods store, but because of the breakdown of negotiations, it had to start bankruptcy management.

Subray, Minister of state for business affairs, revealed 26 days ago that there was no immediate plan to lay off or close stores in the UK home store. Although it has entered bankruptcy management, it will remain open as usual.

It is reported that financial advisers and investment companies have replaced the original management of British home stores.

Dao Heng is actively looking for buyers for UK home stores. If there is no suitable buyer, the UK home store will become another large retail store.

According to the British report, the survival space of physical stores is frequently squeezed under the continuous emergence of online shops.

According to the statistics of the British Retail Research Center, e-commerce and online stores are booming, making the survival crisis faced by the British entity stores unprecedentedly severe. The number of physical stores will continue to decrease. It is estimated that by 2018, the physical stores in the UK will be reduced from more than 280 thousand to 220 thousand, and about 300000 will lose their jobs.

It is an imminent and important test to find a suitable way to survive and develop.