- Suleyman confirmed “parts of the business are on my radar”
- He is now one of several retailers known to be interested in Austin Reed’s estate
- Other parties include private equity firm Better Capital and retailers Moss Bros, Joules and White Stuff
Hawes & Curtis and Ghost owner Touker Suleyman is eyeing parts of collapsed menswear retailer Austin Reed, according to reports.
Suleyman confirmed to the Guardian that he was interested in Austin Reed’s estate. He joins a list of fashion retailers interested in the estate, in addition to private equity firm Better Capital, which owns Jaeger.
Austin Reed entered administration last month, it was the second high-profile retail collapse in as many days, following department store chain BHS.
It entered administration just days after Alteri Investors acquired a large stake in the business, consisting of the retailer’s loan notes and shareholder capital, from Darius Capital.
The business is now part-owned by secondary lender Alteri and primary lender Wells Fargo Capital.
Austin Reed is the most recent in a line of beleaguered UK retailers that Alteri has invested in.
There are no immediate plans for Austin Reed store closures or redundancies, although the administration does put the long-term future of about 1,184 jobs on the line.
Founded in 1900, Austin Reed has 100 standalone stores and 50 concessions in the UK and Ireland.