Menswear retailer Austin Reed's 120 stores will close by the end of June, costing 1,000 jobs.
The
administrators, Alix Partners, said it would implement "a managed
wind-down process" because no viable offers had been received for the
business.
Austin Reed fell into administration last month, amid a "challenging" retail market and cash flow difficulties.
The firm was founded in 1900 as a tailor and counted Winston Churchill as a customer.
"Despite
a significant number of interested parties coming forward during this
period, it became clear as the process progressed that a viable solution
which kept the business whole was not forthcoming," said Peter Savile,
joint administrator.
"As a result we have made the difficult decision to cease trading the business and commence a wind-down of the estate."
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