Now McPherson buys 48 homewares stores
THE new owner of Ethel Austin has expanded her retail empire by buying 46 Au Naturale homewares stores.
Elaine McPherson says she may sell products from the Glasgow-based homewares chain in her 270-plus Ethel Austin stores, which she bought earlier this week.
Au Naturale fell into administration earlier this month, blaming “financial distress” caused by the ongoing retail downturn and supply chain problems.
Its new owner says she is confident in the future of the stores she has purchased, including those in Southport and Cheshire Oaks.
Meanwhile Ms McPherson, former boss of MK One, has confirmed that she is not planning to swoop for the discount retail chain which yesterday went into administration.
Au Naturale’s parent group Au Nat went into administration on May 7.
The group had sold 31 Au Naturale stores to Altrincham company Opus Estates last month, and had sold all its Internacionale-branded stores to an unnamed bidder on May 1.
Administrator PricewaterhouseCoopers is continuing to trade Au Nat’s remaining 13 stores while it decides on their future.
Ms McPherson, also known as Elaine Gray, said: “I’m obviously delighted to have acquired 46 Au Naturale stores from the administrators and to be able to preserve some 550 jobs, including those at the headquarters of Au Naturale in Glasgow.
“Au Naturale was a very profitable business and has fantastic potential. I’m preparing a strategy to ensure that the business is once again a strong and successful retail brand.
“There’s a great team at the head office and throughout the stores who understand that there is great potential for fashionable homewares at really keen prices.
“I can confirm that I have no plans to merge Au Naturale with Ethel Austin to form a single clothing and homewares chain. But Ethel Austin formerly sold homewares as part of its range so I’m actively exploring putting fresh product lines from Au Naturale into Ethel Austin outlets.”
Around 2,500 jobs are under threat at MK One after the group was put into administration yesterday.
Deloitte & Touche was appointed as administrator of the loss-making 172-store chain just weeks after it was sold by its former owner, Icelandic investment firm Baugur.
Retail restructuring specialist Hilco, had bought the troubled group at the beginning of the month for an undisclosed sum.
Ms McPherson headed MK One until its sale to Baugur in 2004 for £55m – a deal which netted her and fellow director David Thompson, who now owns Lewis’s, a reported £39.6m windfall for their 90% stake.
alistairhoughton
