Beamfeature’s boss takes stake in Life and Style

THE managing director of Manchester-based textile business Beamfeature has invested in the homeware chain Life & Style which was formerly Ethel Austin.

It is understood that Beamfeature’s boss Suresh Ruia has made a significant investment in the business making him a major shareholder.

The former owner of Ethel Austin – Elaine McPherson – rescued the value chain from administration for the second time in March.

According to reports, the investment will allow the company – which currently consists of 91 former Ethel Austin stores – to more than double this number over the next two years.

Stretford-based Beamfeature is an established household textile import and export company which supplies both wholesalers and major retailers in the domestic and overseas market.

Ms McPherson, the previous chief executive and joint-owner of MK One, pledged to return Ethel Austin to its “former glory” after snapping up the group in May 2008.

But the 76-year-old firm came under pressure from rival budget chains such as Primark and Matalan and the financial crisis also affected its financing plans.

More than 2,000 jobs were lost earlier this year when 200 out of 300 stores in the group were closed down after the most recent insolvency.

The business, which had its head office in Knowsley, Merseyside, was founded by Ethel Austin and her husband George Austin in their Liverpool council house in 1934.

Life & Style’s head office is now in Broadheath, Altrincham. According to Companies House its directors are: Ms McPherson, Graham Stephens, Emma Jane Browne, Thomas Carden, John Ferguson and Linda John.