GENERAL MERCHANDISE NEWS
Laura Ashley to close 35 stores in Europe
23 January, 2003 | by Retail Bulletin
All German stores to shut
January 23 2003
Laura Ashley plans to close a further 35 stores across Continental Europe including all its remaining stores in Germany.
The move is part of an ongoing review of its underperforming European operations by the clothing and homewear retailer, which is also looking for franchise partners for its remaining 18 European stores, all of which are profitable.
Chief Executive KC Ng said: “Whilst closing any stores is always a difficult decision, we do believe that by closing all our loss making stores in Continental Europe and exiting Germany, this will place the Company on a firmer footing for its further development.”
