Over 700 jobs under threat as Laura Ashley slumps into administration

Stricken home furnishing brand Laura Ashley has called in administrators from PwC putting 721 jobs at risk.

Rob Lewus and Zelf Hussain of PwC have closed 70 UK stores, while 77 remain open as they look for a buyer for the troubled firm.

Katharine Poulter, chief executive, said: “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.”

“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.”