Viyella Sale Is Announced

Feb. 6, 2009 - PRLog -- The Austin Reed clothing chain has agreed to purchase ladies wear firm Viyella from administrators.

Birmingham based Poppleton & Appleby were brought into William Hollins & Company Limited – which trades as Viyella – last month and has now reached agreement with Austin Reed.

The deal means that 230 of the original staff should keep their jobs. It is believed that around 21 stand alone stores and 16 concessions will continue to trade.

Viyella, which was founded in 1784, had 450 employees and more than 100 outlets before appointing administrators.

Andrew Turpin, of Poppleton & Appleby, said: “We are very pleased to have reached an agreement with Austin Reed during what are quite obviously testing times in the retail industry.

“There are good synergies between the two companies and we wish Austin Reed a successful future.”

The Austin Reed Group trades from in the region of 300 stores and concessions, mainly in the United Kingdom under the Austin Reed and CC brands and has licensing agreements which operate in Europe, US, Japan, India and other Far Eastern countries.

PLEASE NOTE – POPPLETON AND APPLEBY WILL NOT BE MAKING ANY FURTHER COMMENT AT THIS POINT


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