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Laura Ashley to close all 22 Homebase concessions

Laura Ashley

Listed homeware and fashion group Laura Ashley has confirmed this morning that it intends to close all of its branded concessions within Homebase by the end of June 2017.

This decision follows the £340m acquisition of Homebase by Wesfarmers in February of this year. The company was sold off by Home Retail Group, which has since been taken over by Sainsbury's.

A Laura Ashley spokesperson said it will "cease to trade in its concessions" within Homebase stores and that the closures will take place during the second quarter of 2017.

"The company does not expect there to be a material impact on the group and anticipates that the majority of trade that it receives from these concessions will be redirected to other Laura Ashley stores and the website operated by the group," it said in a London Stock Exchange statement.

Laura Ashley is the final concession to be removed from Homebase following the previous removals of Wiggle, Habitat and Argos following the sale of Homebase to Wesfarmers.

Source: Insight DIY Team

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21 October 2016

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