Austin Reed files notice for administration

Endaba Group

Tailoring brand Austin Reed has filed a notice of intention, and administrators could be called in as early as next week, leaving close to 1,000 jobs at risk. Last week, American hedge fund investors Alteri Investors, which is backed by Apollo Global Management took control of the retailer. The brand once boasted customers such as Winston Churchill and Elizabeth Taylor, although it has been steadily declining and in 2011 moved out of its Regent Street flagship store, downsizing across the road.