Elaine McPherson mulls second rescue bid for Ethel Austin

ELAINE McPherson, the Scottish entrepreneur who rescued Ethel Austin from administration in 2008 only for the company to suffer the same fate last week, is reported to be considering a bid to buy the firm again.

Ethel Austin and sister company Au Naturale, which was founded in Scotland, have gone into administration for the second time.

Since last week, administrators have cut 469 jobs from its 3,700-strong workforce and launched a closing-down sale at 129 stores.

The Leeds-based corporate recovery specialist Endless is also understood to be considering a bid for the businesses.