Laura Ashley brand sold to Gordon Brothers
The Laura Ashley brand has been sold by administrators to Gordon Brothers for an undisclosed sum.
The retailer’s archives and intellectual property were also included in the deal.
However, the future of Laura Ashley’s stores remains uncertain as the administrators are still seeking a buyer for its UK operations.
While the stores have been closed since 24 March in line with coronavirus lockdown restrictions, Laura Ashley’s online business has continued to trade as the administrators explore options to preserve as much of its retail, manufacturing and distribution operations as possible.
The retailer filed for administration last month after talks regarding a rescue of the business failed.
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 worldwide 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.”
