Austin Reed plots new stores

CLOTHING chain Austin Reed has unveiled plans to open another 30 stores as it continues its expansion.

The group, which also owns Country Casuals, is looking to increase the number of UK sites it operates from 329 to nearly 360.

It currently has 96 Austin Reed outlets, including one in George Street, and 233 Country Casuals, with one in Frederick Street.

The company delisted from the London Stock Exchange last year after being bought by corporate finance group Dawnay Day.

Chief executive Nick Hollingworth said: "Now is an excellent time to be looking, there's a lot of retail space on the market."

In its first full year as a private company to January 31 this year, the company saw like-for-like sales rise by 0.8 per cent, with total UK and Ireland revenues 1.8 per cent ahead at £110m.