COVID-19: Fashion retailer Laura Ashley files for Administration

Fashion retailer points finger at Coronavirus outbreak after rescue talks were thwarted

COVID-19: Fashion retailer Laura Ashley files for Administration

The Laura Ashley store situated on Stone Row in Coleraine.

by Staff Reporter

Reporter:

by Staff Reporter

FASHION and home retailer Laura Ashley, which has a store in Coleraine, is to appoint administrators after being hit by the impact of the COVID-19 outbreak.

The firm said the outbreak "has had an immediate and significant impact on trading".

As reported by the BBC, it had been in talks with its lenders about accessing sufficient money to allow it to continue trading.

But based on cash flow forecasts and continued virus uncertainty, it said it would not get those funds in time.

The retailer operates 150 stores in the UK and employs around 2,700 staff.

It said it hired advisers from PwC to oversee the administration today (Tuesday).

Leave your comment

Share your opinions on Alpha Newspaper Group

Characters left: 1500

BREAKING