Fashion chain Laura Ashley has filed for administration after rescue talks were halted due to the coronavirus outbreak. The move has put up to 2,700 jobs at risk.
The retailer - who had recently discussed refinancing with stakeholders - said its “revised cash flow forecasts and increased uncertainty” mean funds will not be secured in sufficient time.
The company has hired advisers from PwC tol oversee the administration. The fashion and furnishing chain recently reported its trading was up 24 per cent year-on-year for the seven weeks leading to March 13.
Despite its upturn, Laura Ashley said the outbreak of the virus “had an immediate and significant impact on trading, and ongoing developments indicate that this will be a sustained national
Read more on manchestereveningnews.co.uk
Get the latest stars news and celebrity rumours with exclusive stories, photos, videos and interviews.
Breaking up, scandals, engagements, divorces, gossip – all you need to know about the private lives of your favorite celebs.
Get to know the latest showbiz news along with exclusive interviews and even more. All this is waiting for you on the main page 24 hours a day, 7 days a week! Who, where, when, with whom, how, why and for what!? Stay tuned to know first!
Just follow us daily and we will provide you with the current news from the life of famous stars and celebrities.
Owner: SNOWLAND s.r.o.
Registration certificate 06691200
Address:
Snowland s.r.o.
16200, Na okraji 381/41, Veleslavín, 162 00 Praha 6
Czech Republic
©2024. All rights reserved.