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Laura Ashley Administrator Makes 148 Further Redundancies

Laura Ashley sign black and white

The joint administrators for Laura Ashley have been forced to make a further 148 staff redundant as they continue to search for a buyer for the business.

While the Laura Ashley brand name was acquired by American investors Gordon Brothers last month, the rest of the group – including two factories in Newtown, mid Wales – remain in administration.

Read - Laura Ashley brand bought out of administration.

PwC have confirmed that as it has not been possible to find a buyer yet, and have made 148 staff redundant in its head office and back office functions. The company has not said whether any of these redundancies affect Newtown, where the Texplan factory reopened last month to make scrubs for frontline NHS workers.

Rob Lewis, joint administrator and PwC partner, said: “It is with real regret that we have to announce redundancies at what is already a challenging time for individuals dealing with Covid-19 disruption. We will, of course, provide all affected staff with the necessary support, which will include working with various agencies and employers who have vacancies. The company is continuing to trade. We still believe there is value in the group and we remain focused on doing all we can to preserve the remaining business while we try to achieve a sale.”

Since the sale of the brand to Gordon Brothers, PwC says it has been working closely with management, employees and interested parties to explore a sale of the UK operations as a going concern.

The joint administrators remain open to interest in the business, but said it was "not viable" to keep all employees due to the financial position of the business.

Source: Insight DIY Team & Combined Press Reports

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26 May 2020

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