Laura Ashley collapses into administration

Laura Ashley, the fashion and home retailer which has a dozen stores across Yorkshire has fallen victim business to the Coronavirus pandemic.

The high street retailer has announced it will have to call in administrators, putting 2,700 jobs at risk.

It is just one of many firms stricken from the impact of the Coronavirus, with the Government advising people to avoid unnecessary contact with others.

Only last month the company had reported it was in talks with its lender about accessing enough money to continue trading.

The business warned that if it could not get the necessary amount of funding, it would need to consider its options.

Laura Ashley’s biggest shareholder is Malayan United Industries (MUI).