Austin Reed to return to high streets next year - new owner

Austin Reed is to make a return to the UK's high streets in a year's time, under plans to rebuild the business following its collapse in the summer. The menswear retailer's owner, Edinburgh Woollen Mill, bought the brand from administrators but not its struggling store estate which was later wound down with the loss of 1,000 jobs. It has since relaunched 116-year-old clothing chain online and said a £100m revival plan would result in the launch of 50 Austin Reed stores across the UK -