Administration for Laura Ashley
Laura Ashley is to appoint PwC as administrator later today and close almost half if its UK stores.
The group says it will keep 77 branches open for the moment and will continue to trade online.
‘Since my appointment just last month, I have shared my vision for the future of this brand, accompanied with a robust turnaround plan to set the future direction of the company and return Laura Ashley to the great British brand that is known and cherished around the world. The vision also included reconnecting with our traditional values and our strong British heritage and focusing on developing Laura Ashley as a lifestyle brand,’ says Katharine Poulter, Laura Ashley ceo.
‘I remain unwavering in my belief that Laura Ashley can and should retain the place it deserves in the international retail landscape. Unfortunately, we will lose some brilliant people through no fault of their own. However, I remain hopeful there is a buyer out there who shares my vision and can see the enormous potential of this iconic British brand that is known and loved around the world.’
The 70 stores employ 721 staff.