Thu, 13 Nov 2014 | COMMERCIAL PROPERTY
The Austins department store and its home, a five-storey Edwardian property in Londonderry, are set to be purchased by the City Hotel Group.
The previous owner Austin & Co entered administrative receivership last week. The deal to rescue the business will preserve 55 jobs.
Brendan Duddy, the chairman of the City Hotel Group, confirmed that it is taking on the Austins building, name and brand. It has no plans to transform the building into a hotel; in fact the chairman said there was a “new business setup” under the control of the previous owners, the Hasson family.
Mr Duddy said: “We feel that Austins is an important attraction in Derry and we’re delighted to be involved in ensuring that it can stay in place.”
The new owner will endeavour to “grow that business, maintain it and keep it strong”.
The store can trace its history back to 1830 when Thomas Austin arrived in Derry and opened a drapery shop on the corner of the Diamond.
The, now 25,000 square foot, department store sells ranges of cosmetics, homeware, gifts, clothes, and Waterford Crystal items, and features the Café Mezzo and a 150-seat self-service restaurant on the top floor.
This occasion offers a new owner the opportunity to continue the growth in the business with further networking across the area and the introduction of new revenue streams by offering additional care services.
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