Update on Laura Ashley Holdings plc - and certain subsidiaries - in administration

Laura Ashley Holdings plc (“ Laura Ashley” or “the Company”, its key trading subsidiary Laura Ashley Limited, Premier Home Logistics Limited, Laura Ashley Investments Limited, and Texplan Manufacturing Limited (collectively “ the Group”)).

On 22 April 2020 the joint administrators from PwC secured a sale of the Laura Ashley brand to Gordon Brothers Brands, LLC, for an undisclosed amount.

Founded in 1953 by husband and wife team Bernard and Laura Ashley, the business has grown into a globally recognized retail, wholesale, licensing and franchising business selling both home furnishings and fashion products. 

All Laura Ashley stores have been closed since 24 March 2020 in line with government lockdown restrictions, however, the e-commerce business has continued to trade while working within social distance guidelines. The administrators have engaged with interested parties during this time with the aim of securing a buyer.

The administrators continue to trade the e-commerce business and prepare for stores to reopen once permitted while they explore options to preserve as much of the retail, manufacturing and distribution operations in the UK and (the Republic of Ireland) as possible.

Ramez Toubassy, President of Brands for Gordon Brothers. said:

“Laura Ashley is a true giant among British lifestyle brands,possessing a unique ability to span geographies, product categories, and price points. 

“We feel humbled and inspired by the responsibility to reignite Mrs. Ashley’s original vision while delivering unique and contemporary products to both long-time followers and new customers from around the world.”

Rob Lewis, joint administrator and PwC partner, said:

“We are extremely pleased to have secured a sale of the brand, which is a testament to the strength and world wide recognition of the Laura Ashley name.  We are continuing to support employees and work with the management team and interested parties to secure a future for the UK operations.”

Ends 

Employees helpline number 020 7213 8767 or  uk_lauraashley_employees@pwc.com

Customers:  uk_lauraashley_customers@pwc.com
Suppliers:   uk_lauraashley_suppliers@pwc.com
Landlords:  uk_lauraashley_landlords@pwc.com
Creditors:   uk_lauraashley_creditors@pwc.com

Notes to editors: 

PwC Media Relations contacts 

David Jetuah
Mobile: 07841468678
Email: david.jetuah@pwc.com

Chris French
Mobile : +44 (0)7483 434951
Email: christopher.c.french@pwc.com 

Felix Ampofo
Mobile: 07841 468245
Email: felix.ampofo@pwc.com